Question: Priyanka is saving for the down payment on a house; she wants to save $59,000.00. At the end of each quarter, she will deposit $2,589.04

Priyanka is saving for the down payment on a house; she wants to save $59,000.00. At the end of each quarter, she will deposit $2,589.04 in an investment account paying r(26) = 5.375% interest, until she has reached her goal.

a) This question deals with the Answer 1 Question 3 presentfuture value of an annuity Answer 2 Question 3 immediatedue.

b) There will be Answer 3 Question 3 payments. The payment period is Answer 4 Question 3 dailyweeklybi-weeklymonthlyquarterlysemi-annualannual

c) The payment amount is $Answer 5 Question 3

d) The effective interest rate per period is Answer 6 Question 3 %

e) The present/future value is

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