Financial Math Question! Please Help!?
A stock pays a dividend of $1.25 each quarter, with the first payment today. These dividends will be deposited in an account earning i^(1)=3.3%. How much will be in the account right after the last dividend is paid in 11 years.
The yearly interest rate must be converted into a quarterly rate but after that I'm not sure what to do. I've tried everything I can think of (such as using an annuity due formula) and nothing works.
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