SOLUTION: If an employee deposits Rs. 2,000 at the end of each year into his company’s plan which pays 7% interest compounded quarterly, how much will he have in the account at the end of

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Question 1141276: If an employee deposits Rs. 2,000 at the end of each year into his company’s plan which pays 7% interest compounded quarterly, how much will he have in the account at the end of 5 years?

Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
this is 2000(1+(.07/4))^20, the 20 is the number of compounding that occurs.
=$2829.56