Make quarterly deposits into a savings account

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Reference no: EM131590491

You want to go on a trip around Europe when you graduate in 4 years. You did some research and think you can get by on $2500. If you make quarterly deposits into a savings account which is earning interest quarterly, how much will you have to deposit every quarter to have $2500 when you graduate? The account earns interest at a rate of 2.75%.

Reference no: EM131590491

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