You deposit $500 today into a savings plan and deposit an additional $50 each quarter (starting in 3 months) for 25 years. if you earn 6.25% compounded quarterly, what will your balance be in 25 years?

The balance will be $14239.74.

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This is the sum of an amount ($500) accumulating interest for 25 years, and a series of $50 payments. The first amount is multiplied by (1 +.0625/4)^100, and the sum of payments is 50*((1 +.0625/4)^100 -1)/(.0625/4).

Almighty God, we all believe in our constant care and love for this life and the life to come. Through our Lord Jesus Christ. Amen. Lord, give endless love and blessings to your dear friends

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