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Kristina started setting aside funds five years ago to save for a down payment on a house. She has saved $600 each quarter and earned an average rate of return of 4.8 percent. How much money does she currently have save

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okpalawalter8

Kristina money saved is mathematically given as

c= 11542.10

How much money does she currently have to save?

Generally, the Naper  is  mathematically given as

n= 4*3 = 12

Where

  • Rate = 0.048
  • PV = 0
  • PMT = 900

Therefore, The current Amount is

c = FV(Rate,Nper, PMT,PV)

c=FV(0.048/4,12,900,0)

c= 11542.10

In conclusion, much money  saved

c= 11542.10

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