If $4500 is deposited at the end of each quarter in an account that earns 7% compounded quarterly, after how many quarters will the account contain $80,000? (Round your answer UP to the nearest quarter.) quarters

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 62SE: Rachael deposits $1500 into a retirement fund each year. The fund earns 8.2% annual interest,...
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If $4500 is deposited at the end of each quarter in an account that earns 7% compounded quarterly, after how many quarters will the account contain $80,000? (Round your answer UP to the nearest quarter.)
quarters
Transcribed Image Text:If $4500 is deposited at the end of each quarter in an account that earns 7% compounded quarterly, after how many quarters will the account contain $80,000? (Round your answer UP to the nearest quarter.) quarters
What interest will be earned if $6400 is invested for 3 years at 13% compounded monthly? (Round your answer to the nearest cent.)
$
Transcribed Image Text:What interest will be earned if $6400 is invested for 3 years at 13% compounded monthly? (Round your answer to the nearest cent.) $
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