If $2500 is deposited at the end of each quarter in an account that earns 5% compounded quarterly, after how many quarters will the account contain $90,000? (Round your answer UP to the nearest quarter.)

If $2500 is deposited at the end of each quarter in an account that earns 5% compounded quarterly, after how many quarters will the account contain $90,000? (Round your answer UP to the nearest quarter.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 31P

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If $2500 is deposited at the end of each quarter in an account that earns 5% compounded quarterly,
after how many quarters will the account contain $90,000? (Round your answer UP to the nearest
quarter.)

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