Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN: 9781337690881
Author: Jay Rich, Jeff Jones
Publisher: Cengage Learning
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Chapter A3, Problem 6CE

Use Future Value and Present Value Tables to Apply Compound Interest to Accounting Transactions

Kristen Quinn makes equal deposits of $500 semiannually for 4 years.

Required:

What is the future value at 8%? (Note: Round answers to two decimal places.)

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