Victoria plans to make deposits of $520 at the end of every three months into a...
Victoria plans to make deposits of $520 at the end of every three months into a savings account in the hopes of saving up for a used car. If the account earns interest at a rate of 5% compounded quarterly, how much money will she have after 5 years?
Homework Answers
Calculating Future Value,
using TVM Calculation,
FV = [PV = 0, PMT = 520, N = 20, I = 0.05/4]
FV = $11,732.75
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