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Q6 Nathan made regular equal deposits into a savings...

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Accounting

Q6
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Nathan made regular equal deposits into a savings account at the end of every month for 4 years. The investments were earning 4.80% compounded quarterly and grew to $14,625 at the end of 4 years. a. Calculate the size of the month-end deposits. a. Calculate the size of the month-end deposits. Round to the nearest cent b. How long will it take for the $14,625 to accumulate to $30,195 if the interest rate remained the same and he continued making b. How long will it take for the $14,625 to accumulate to $30,195 if the interest rate remained the same and he continued making the same month-end deposits throughout the term? years months Express the answer in years and months, rounded to the next payment period

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