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Ali deposited $25,500 into a fund at the beginning of every quarter

for 19 years. He then stopped making deposits into the fund and allowed the investment to grow for 3 more years. The fund was growing at 5.98% compounded monthly.


a. What was the accumulated value of the fund at the end of year 19?


b. What was the accumulated value of the fund at the end of year 22?


c. What is the total amount of interest earned over the 22-year period?

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Subject: Business, Finance

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