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Suntech Distributors, Inc., deposits $4,000 at the beginning of each 3-month period for 7 years...

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Question

Accounting

Suntech Distributors, Inc., deposits $4,000 at the beginning of each 3-month period for 7 years in an account paying 6% interest compounded quarterly. Round your answers to the nearest cent.

Click here for Table 12-1

a. How much will be in the account at the end of the 7-year period?

$

b. What is the total amount of interest earned in this account?

$

Answer & Explanation Solved by verified expert
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