Gregory deposited $24,000 into a fund at the beginning of every quarter for 10 years....
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Accounting
Gregory deposited $24,000 into a fund at the beginning of every quarter for 10 years. He then stopped making deposits into the fund and allowed the investment to grow for 4 more years. The fund was growing at 4.48% compounded monthly.
a. What was the accumulated value of the fund at the end of year 10?
b. What was the accumulated value of the fund at the end of year 14?
c. What is the total amount of interest earned over the 14-year period?
ROUND TO THE NEAREST CENT
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