Sean Paul makes deposits of $500.00 at the beginning of every three months. Interest earned by the deposits is 8% compounded quarterly.
a) What will the balance in Sean's account be after ten years?
b) How much of the balance will Sean have contributed?
c) How much of the balance is interest?

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The Answer of Sean Paul makes deposits of $500.00 at the beginning of every three months. Interest earned by the deposits is 8% compounded quarterly.
a) What will the balance in Sean's account be after ten years?
b) How much of the balance will Sean have contributed?
c) How much of the balance is interest?

Sean Paul Makes Deposits of $500