3. Yvonne and Tanya each make regular deposits into an annuity. Yvonne deposits $150 at the...

 

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3. Yvonne and Tanya each make regular deposits into an annuity. Yvonne deposits $150 at the end of each month at 8% per year compounded monthly Tanya deposits $450 at the end of each quarter at 8% per year compounded quarterly a) Who do you think will have the greater amount at the end of 4 years? b) Explain your reasoning using calculations? 3. Yvonne and Tanya each make regular deposits into an annuity. Yvonne deposits $150 at the end of each month at 8% per year compounded monthly Tanya deposits $450 at the end of each quarter at 8% per year compounded quarterly a) Who do you think will have the greater amount at the end of 4 years? b) Explain your reasoning using calculations?

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Your query involves calculating the future value of two different annuities based on the deposits an... View the full answer