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How much money would have saved by the end of year three

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Reference no: EM133005935

Problem 1: You are saving to buy a car. No money has been saved yet. You put $400 end of each quarter in an investment account earning an 8% rate of return each year compounded quarterly. How much money would you have saved by the end of year 3?

a. $ 5,212
b. $ 5,365
c. $5,676
d. $ 5,145

Reference no: EM133005935

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