In March 2020, Yves decided to save for a new truck. He deposited $500 at the end

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In March 2020, 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, 2020. On June 1, 2022, Yves decided that he needed the money to go to college, so on September 1, 2022, rather than making deposits, he started withdrawing $300 at the end of each quarter until December 1, 2023. How much is left in his account after the last with- drawal if his bank account interest rate changed to 6.5% compounded quarterly on March 1, 2023?

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Contemporary Business Mathematics With Canadian Applications

ISBN: 9780135285015

12th Edition

Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday

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