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How many full deposits are required

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Question - A person needs $73000. He/she makes deposits of $1500 at the end of each quarter in an account which earns 9.25% compounded quarterly.

a. How many full deposits are required?

b. Find the amount of the smaller concluding deposit at the end of the next quarter. If no final deposit is required, your answer is 0.

Reference no: EM133056066

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