Nominal interest rate, You just deposited $2,500 in a bank

Nominal interest rate

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Reference no: EM131459916

You just deposited $2,500 in a bank account that pays a 4.0% nominal interest rate, compounded quarterly. If you also add another $5,000 to the account one year (4 quarters) from now and another $7,500 to the account two years (8 quarters) from now, how much will be in the account three years (12 quarters) from now? Please use a BAII calculator and show your steps

Reference no: EM131459916

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