Question: Please solve problem #3 . (4 points) Suppose you invest $1200 at the end of each quarter into an account that pays an annual interest

Please solve problem #3

. (4 points) Suppose you invest $1200 at the end of each quarter into an account that pays an annual interest rate of 8% compounded quarterly. How much is in the account after 10 years?

3. (4 points) Consider the account from Problem #2.

How much would I have to pay into the account to accumulate $100,000 after 10 years? Round your answer to the nearest cent.

(Remember that the account pays an annual interest rate of 8% compounded quarterly.)

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