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Anne wants to accumulate $25,000 by December 31,2019.To accumulate that sum,she will make twelve equal quarterly deposits of $1,761.55 at the end of March,June,September,and December for the next three years,beginning on March 31,2016,into a fund that earns interest compounded quarterly.What annual rate of interest must the fund provide to yield the desired sum?
Biological Clock
A mechanism in living organisms that controls the timing of various physical functions, such as sleep and wake cycles, hormone release, and other bodily functions.
Retina
The light-sensitive layer of tissue at the back of the inner eye, responsible for converting light into neural signals for vision.
Time Zones
Geographically based divisions where the local time is adjusted from the standard time, primarily influenced by the rotation of the earth relative to the sun.
Travel East
The action of moving in an easterly direction, often associated with adjusting to time zone changes and potentially experiencing jet lag.
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