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Ingrid wants to buy a $1600 car in 8 years. How much money must she deposit at the end of each quarter in an account paying 5.3% compounded quarterly so that she will have enough to pay for her car?

Homework 5.3 solving annuity

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Ingrid wants to buy a $1600 car in 8 years. How much money must she deposit at the end of each quarter in an account paying 5.3% compounded quarterly so that she will have enough to pay for her car?
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