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How much do you receive each month

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Question - You put $20,000 into an account that pays 6% interest compounded quarterly. You receive equal payments for 4 years, and after the last payment (last quarter in Year 4), the account is empty. How much do you receive each month?

A. 1250.00

B. 1325.00

C. 1415.30

D. 1505.70

Reference no: EM133160898

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