Deposits of $850 at the end of every three months for 12 years are made into an account bearing interest at 4.8% compounded quarterly (a) What is the accumulated value of the annuity?

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Answer to a math question Deposits of $850 at the end of every three months for 12 years are made into an account bearing interest at 4.8% compounded quarterly (a) What is the accumulated value of the annuity?

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Timmothy

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850\times\frac{\left(1+\frac{4.8\%}{4}\right)^{4\times12}-1}{\frac{4.8\%}{4}}=54741.40

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