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Mrs Lavergne Deposits $562

Question 64

Essay

Mrs. Lavergne deposits $562.71 at the beginning of every three months. Starting three months after the last deposit, she intends to withdraw $587.00 every three months for 16 years. If interest is 8.14% compounded quarterly, for how long must Mrs. Lavergne make deposits?

Correct Answer:

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PVn = 587.00 blured image blured image blured image (due)
20899.61 ...

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