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Business, 03.09.2021 02:10 victoriabrooks5766
Every year Professor Y deposits $1,200 into an account that he intends to use for research funding at a later date. The money is deposited in a specific way: each year the $1,200 is actually deposited as 4 equal deposits. In particular, at the end of each quarter of the year, $300 is deposited. The account pays an annual nominal rate of interest of 12% convertible quarterly. This continues for 9 years. To the nearest dollar, the amount in the account the day after the final deposit is:
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Every year Professor Y deposits $1,200 into an account that he intends to use for research funding a...
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