Deposit = 258
i = 16% compounded quarterly = 16/4 = 4% per quarter
n = 15 years = 15*4 = 60 quarters
The amount at the end = 258*(F/A,4%,60) = 258*237.9907 = 61402
You deposit $258 at the end of each quarter into an account that pays a nominal annual rate of 16% compounded quarterly...
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I NEED ABSOLUTELY CORRECT ANSWERS FOR THESE.
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