Solution-Balance in the fund after twelve years

Balance in the fund after twelve years

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Reference no: EM131108745

Payments of $360 are made into a fund at the end of every three months for twelve years. The fund earns interest at 7% compounded quarterly.

a) What will be the balance in the fund after twelve years?

b) How much of the balance is deposits?

c) How much of the balance is interest?

Reference no: EM131108745

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Balance in the fund after twelve years

Reference no: EM131108745

Reference no: EM131108745

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