Your grandfather started his own business 52 years ago.He opened an investment account at the end of his third month of business and contributed $x.Every three months since then, he faithfully saved another $x.His savings account has earned an average rate of 5.73 percent annually.Today, his account is valued at $289,209.11.How much did your grandfather save every three months assuming he saved the same amount each time?
A) $284.02
B) $328.67
C) $331.09
D) $226.78
E) $262.25
Correct Answer:
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