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Entire balance in bank account to invest

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Sue Sussman started a paper route on January 1, 2002. Every three months, she deposits $500 in her bank account, which earns 4 percent annually but is compounded quarterly. On December 31, 2005 she used the entire balance in her bank account to invest in a contract that pays 9 percent annually. How much will she have on December 31, 2008?

Reference no: EM131157380

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