Mr. Smith made 24 monthly deposits of $250 into an account that earns 8% compounded quarterly. How much will be in the account three years after his last deposit?
A) $6,522.87
B) $8,272.57
C) $7,021.41
D) $8,218.15
E) $7,014.11

Question

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The Answer of Mr. Smith made 24 monthly deposits of $250 into an account that earns 8% compounded quarterly. How much will be in the account three years after his last deposit?
A) $6,522.87
B) $8,272.57
C) $7,021.41
D) $8,218.15
E) $7,014.11

Mr Smith Made 24 Monthly Deposits of $250 into an Account