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Deposit in an account at the beginning

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Mr. Dawson wants to receive payments of $1,230.00 at the beginning of every three months for 19 years starting on the date of his retirement. If he retires in 21 years, how much must he deposit in an account at the beginning of every three months if interest on the account is 6.84% compounded quarterly?

Select one:

a. $222.41

b. $284.21

c. $242.81

d. $282.41

e. $228.81

Reference no: EM131757927

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