A Sum of Money Is Deposited at the End of Every

question 68

Essay

A sum of money is deposited at the end of every month for 9 years at 8.5% compounded monthly. After the last deposit, interest for the account is to be 8.1% compounded quarterly and the account is to be paid out by end-of-quarter quarterly payments of $1800.00 over 7 years. What is the size of the monthly deposit?

---

Definitions:

Animal Sources

Origins or suppliers of products, substances, or organisms derived from animals, such as food, fibers, or research models.

Intrude

To enter without permission or welcome, often causing disruption or disturbance.

Pathogenic

Referring to an organism or substance capable of causing disease or illness in its host.