Determine the interest earned

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Suppose that you earned a bachelor's degree and now you are teaching middle school. The school district offers teachers the opportunity to take a year off to earn a master's degree. To achieve this goal, you deposit $1500 at the end of every three months in an annuity paying 5.5% compounded quarterly. How much will you have saved at the end of 5 years? Determine the interest earned. Round to the nearest dollar.

Reference no: EM131552627

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