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Find the quarterly payments

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Question - Kaitlyn hopes to attend a college where tuition is $24,000 per year. She believes that tuition will increase at 4% for the 3 years until she plans to enter college. Find the quarterly payments needed to accumulate funds to pay the first year's tuition if funds earn 8% compounded quarterly.

A. $34.05

B. $2,561.30

C. $1,597.20

D. $2,012.87

Reference no: EM132539857

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