The Little Red-Haired Girl makes quarterly deposits into an account paying an effective interest rate of 3.5% per quarter. The first depost is $4200, and each subsequent deposit is $200 SMALLER than the previous one. How much is in the account immediately after the 12th depost? Balance = $

The Little Red-Haired Girl makes quarterly deposits into an account paying an effective interest rate of 3.5% per quarter. The first depost is $4200, and each subsequent deposit is $200 SMALLER than the previous one. How much is in the account immediately after the 12th depost? Balance = $

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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The Little Red-Haired Girl makes quarterly deposits into an account paying an effective interest rate of 3.5% per quarter. The first depost is $4200, and each subsequent
deposit is $200 SMALLER than the previous one. How much is in the account immediately after the 12th depost?
Balance $

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