A series of $500 contributions were made at three-month intervals to a fund earning 7.5% compounded quarterly. The accumulated amount continued to earn 7.5% compounded quarterly for three years after the last contribution, ending the period at $13,232.56. How many $500 contributions were made?

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The Answer of A series of $500 contributions were made at three-month intervals to a fund earning 7.5% compounded quarterly. The accumulated amount continued to earn 7.5% compounded quarterly for three years after the last contribution, ending the period at $13,232.56. How many $500 contributions were made?

A Series of $500 Contributions Were Made at Three-Month Intervals