Nonannual compounding using a calculator hank schrader, Finance Basics

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Nonannual compounding using a calculator hank schrader

Question: (Nonannual compounding using a calculator) Hank Schrader plans to invest $1,000 at the end of each quarter for 4 years into an account with an APR of 6.4 percent compounded quarterly. He will use this money as a down payment on a new home at the end of the 4 years. How large will his down payment be 4 years from today?

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