Amanda would like to accumulate $52,000 for a down payment on a house. She has decided to make deposits on the first of every quarter in a savings account that pays 6% annual interest, compounded annually. You wish to know how much should her quarterly payment be, if Amanda wishes to reach her goal in 5 years. Find m (the number of compounding periods per year) O a. 12 O b. 9 O c. 4 O d. 1 O e. 2
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