Chambers Campos
10/08/2024 · High School
You would like to have \( \$ 950,000 \) when you retire in 30 years. How much should you invest each quarter if you can earn a rate of \( 6.3 \% \) compounded quarterly? a) How much should you deposit each quarter? \( \$ \) b) How much total money will you put into the account? c) How much total interest will you earn? \( \$ \)
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a) You should deposit approximately \$3,448.36 each quarter.
b) The total money you will put into the account is approximately \$413,803.20.
c) The total interest you will earn is approximately \$536,196.80.
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