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QUESTION

Assuming an 3.85% rate of return, compounded quarterly, how much interest would a person earn in a savings plan that has quarterly payments of $75 at...

Assuming an 3.85% rate of return, compounded quarterly, how much interest would a person earn in a savings plan that has quarterly payments of $75 at the end of each quarter for 10 years?

about $638.27

about $195.55

about $3,000

about $3,638.27

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