To establish a rainy day cash reserve account, a certain company deposits $11,000 of its profit at the end of each quarter into a money market account that pays 1.55% interest compounded quarterly. (Round your answers to the nearest cent.) (a) How much (in $) will the account be worth in 4 years? $ 1 (b) How much (in

Sep 8, 2023

 

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To establish a rainy day cash reserve account, a certain company deposits $11,000 of its profit at the end of each quarter into a money market account that pays 1.55% interest compounded quarterly. (Round your answers to the nearest cent.) (a) How much (in $) will the account be worth in 4 years? $ 1 (b) How much (in
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