Suntech Distributors, Inc., deposits $4,000 at the beginning of each 3-month period for 7 years in an account paying 6% interest compounded quarterly. Round your answers to the nearest cent. a. How much will be in the account at the end of the 7-year period? $ b. What is the total amount of interest earned in this account?

Suntech Distributors, Inc., deposits $4,000 at the beginning of each 3-month period for 7 years in an account paying 6% interest compounded quarterly. Round your answers to the nearest cent. a. How much will be in the account at the end of the 7-year period? $ b. What is the total amount of interest earned in this account?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter5: Introduction To Business Expenses

Section: Chapter Questions

Problem 61P

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