44. Clayton Camp deposits $500.00 in an ordinary annuity at the end of each quarter. The account earns 6 percent interest compounded quarterly. What is the future value of the account in 2 years? Use the table below to answer this question.

Algebra and Trigonometry (6th Edition)
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ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
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44. Clayton Camp deposits $500.00 in an ordinary annuity at the end of each quarter. The account earns 6 percent interest
compounded quarterly. What is the future value of the account in 2 years? Use the table below to answer this question.
Future Value of an Ordinary Annuity for $1.00 per Period
Rate Per Period
100.
$1.00000
$2.01000
$3.03010
$4.06040
$5 10101
$6.15202
$7.21354
$8.28567
$9.36853
$10.46221
$11.56683
$12.68250
Quarterly
Period "n
0.50
$1.00000
$2.00500
$3.01502
$4.03010
$5.05025
$6.07550
$7.10588
$8.14141
$9.18212
$10.22803
$11.27917
$12.33556
150
$1.00000
$2.01500
$3.04522
$4.09090
$5.15227
$6.22955
$7 32299
$843284
$9.55933
$10 70272
$11.86326
$13.04121
200
$1.00000
$2.02000
$3.06040
$4.12161
$5.20404
$6.30812
$743428
$8.58297
$9 75463
$10.94972
$12.16872
$13.41209
3
17
10
11
12
Transcribed Image Text:44. Clayton Camp deposits $500.00 in an ordinary annuity at the end of each quarter. The account earns 6 percent interest compounded quarterly. What is the future value of the account in 2 years? Use the table below to answer this question. Future Value of an Ordinary Annuity for $1.00 per Period Rate Per Period 100. $1.00000 $2.01000 $3.03010 $4.06040 $5 10101 $6.15202 $7.21354 $8.28567 $9.36853 $10.46221 $11.56683 $12.68250 Quarterly Period "n 0.50 $1.00000 $2.00500 $3.01502 $4.03010 $5.05025 $6.07550 $7.10588 $8.14141 $9.18212 $10.22803 $11.27917 $12.33556 150 $1.00000 $2.01500 $3.04522 $4.09090 $5.15227 $6.22955 $7 32299 $843284 $9.55933 $10 70272 $11.86326 $13.04121 200 $1.00000 $2.02000 $3.06040 $4.12161 $5.20404 $6.30812 $743428 $8.58297 $9 75463 $10.94972 $12.16872 $13.41209 3 17 10 11 12
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