Question: Jane Adele deposits $400 in an account at the beginning of each 3-month period for 12 years. If the account pays interest at the rate

Jane Adele deposits $400 in an account at the beginning of each 3-month period for 12 years. If the account pays interest at the rate of 8%, compounded quarterly, how much will she have in her account after 12 years? (a) State whether the problem relates to an ordinary annuity or an annuity due. ordinary annuity annuity due Correct: Your answer is correct. (b) Solve the problem. (Round your answer to the nearest cent.)

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