A Woman Contributed $\$ 340$ Per Quarter for the First 12 Years of an Annuity

question 102

Multiple Choice

A woman contributed $\$ 340$ per quarter for the first 12 years of an annuity, but changed to quarterly payments of $\$ 1,550$ for the last 12 years. Assuming $9 \frac { 3 } { 4 } \%$ annual interest compounded quarterly, what is her accumulated value?

• A) \(\$ 234,972.16\)
• B) \(\quad \$ 234,922.34\)
• C) \(\quad \$ 168,808.83\)
• D) \(\quad \$ 168,911.72\)

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