mya101022 mya101022

29-09-2022
Mathematics

Answered

$5,500 is deposited at the end of each quarter in an account that earns 8% compounded quarterly until $60,000 has accumulated in the account.
This scenario describes the Future Value of an Ordinary Annuity
From the formula in the textbook, all values are known, except for n
After how many quarters will the account contain $60,000? (Round your answer UP to the nearest quarter.)
_______quarters

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