First quarterly contribution to his retirement account

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Reference no: EM131487438

Ollie has 13,000 dollars in his retirement account. He plans to make quarterly contributions of 13,900 dollars to his account. His first quarterly contribution to his retirement account is expected in 3 months. Ollie expects to earn a return of 16.08 percent per year in his retirement account. How many quarterly contributions of 13,900 dollars does Ollie need to make to his retirement account to reach 346,580 dollars?

Reference no: EM131487438

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