Question: On March 1, 2016, Yves decided to save for a new truck. He deposited $500 at the end of every three months in a bank

On March 1, 2016, Yves decided to save for a new truck. He deposited $500 at the end of every three months in a bank account earning interest at 5% compounded quarterly. He made his first deposit on June 1, 2016. On June 1, 2018, Yves decided that he needed the money to go to college, so on September 1, 2018, he stopped making deposits and started withdrawing $300 at the end of each quarter until December 1, 2019. How much is left in his account after the last withdrawal if his bank account interest rate changed to 6.5% compounded quarterly on March 1, 2019?

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Accumulated value of the deposits of 50000 on December 1 2019 50000946337410379711049547 51546... View full answer

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