Carol Travis started a paper route on January 1, 2020. Every three months, she deposits $1,050 in her bank account, which earns 8 percent annually but is compounded quarterly. On December 31, 2023, she used the entire balance in her bank account to invest in a contract that pays 6 percent annually. How much will she have on December 31, 2026? (Use a Financial calculator to arrive at the answer. Round "FV Factor" to 3 decimal places. Round your intermediate and final answer to the nearest whole dollar.) Future value www.
Carol Travis started a paper route on January 1, 2020. Every three months, she deposits $1,050 in her bank account, which earns 8 percent annually but is compounded quarterly. On December 31, 2023, she used the entire balance in her bank account to invest in a contract that pays 6 percent annually. How much will she have on December 31, 2026? (Use a Financial calculator to arrive at the answer. Round "FV Factor" to 3 decimal places. Round your intermediate and final answer to the nearest whole dollar.) Future value www.
Chapter5: Introduction To Business Expenses
Section: Chapter Questions
Problem 61P
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