Question

Mr. Clark makes a deposit at the beginning of every three months into a savings account...

Mr. Clark makes a deposit at the beginning of every three months into a savings account that earns interest at 4.6​% compounded quarterly. He saves for six years, then converts his savings into an annuity that pays him $650 at the beginning of every three months for ten years. What is the size of the deposit he makes while he is​ saving?

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Answer #1

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