For an eight year period diane deposited 600 each quarter, Ask an Expert

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For an eight year period, Diane deposited $600 each quarter into an account paying 3.6% annual interest compounded quarterly. (round your answers to the nearest cent and show ALL work)

1. How much money was in the account at the end of 8 years?

2. How much interest was earned during the 8 year period?

Diane then made no more deposits or withdrawals, and the money in the account continued to earn 3.6% annual interest compounded quarterly, for 5 more years.

3. How much money was in the account after the 5 year period?

4. How much interest was earned during the 5 year period?

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M9989985

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