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If you deposit $1000 per month into an investment account that pays interest at a rate...

If you deposit $1000 per month into an investment account that pays interest at a rate of 6% per year, compounded quarterly, how much will be in the account at the end of 5 years?

a) Solve the question under the assumption that there is no inter-period compounding.

b) Solve the question under the assumption that there is inter-period compounding.

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