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If $3,000 Is Deposited at the Beginning of Each Quarter

Question 87

Multiple Choice

If $3,000 is deposited at the beginning of each quarter into an account that earns 6% compounded quarterly, how long until the account contains $42,000? Express your answer as a whole number of quadrants. ​


A) 14 quarters
B) 13 quarters
C) 15 quarters
D) 16 quarters
E) 10 quarters

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