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Math Help - Compound Interest problem

  1. #1
    xyz
    xyz is offline
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    deleted due to infraction threat

    Infraction blackmail by captain black

    But the post was (restored by CB):
    Please tell me if my solution to the following problem(in blue) is correct. My answer to a) is $1479382 and answer to be b) is $1431904.84

    You deposit $150 in your savings account every month for your retirement. Your conservative savings account earns 1% interest, compounded quarterly. Every quarter you deposit 5% more than the previous quarter.
    a) How much money will you have after 25 years?
    b) In addition to the deposit described above, if you withdraw a fixed $100 every quarter, how much money will you have after 25 years?
    Q8b.pdf

    CB
    Last edited by CaptainBlack; May 16th 2011 at 04:38 AM. Reason: restored original post, that recieved an infraction for being in the wrong form (advanced applied)
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