How do you solve for the number of quarters

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How do you solve for the number of quarters until an account's balance is zero?

A personal account earmarked as a retirement supplement contains $292,300. Suppose $250,000 is used to establish an annuity that earns 6%, compounded quarterly, and pays $6500 at the end of each quarter. How long will it be until the account balance is $0? (Round your answer UP to the nearest quarter.)

Reference no: EM132038872

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