Question

Leslie McCormack is in the spring quarter of her freshman year of college. she and her friends already are planning a trip to Europe after graduation in a little over three years. Leslie would like to contribute to a savings account over the next three year in order to accumulate enough money to take the trip. assume an interest rate 14% compounded quarterly.

A: https://ezto mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchurl=https%253A%252F%252Fm 110% art 2 Learn Sarved Help Leslie McCormack is in the spring quarter of her freshman year of college. She and her friends already are planning a trip to Europe after graduation in a little over three years. Leslie would like to contribute to a savings account over the next three years in order to accumulate enough money to take the trip. Assume an interest rate of 14%, compounded quarterly. (FV of $1, PV of S1, FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) How much will she accumulate in three years by depositing $740 at the end of each of the next 12 quarters, beginning three months from now? (Round your interest rate to 1 decimal place.) Table or calculator function: Payment: n. Future Value: < Prev 1 of 22 ER Next >

Answer 1

Table or Calculator Function:	FVAD of $1
Payment:	$                                                                                               740
n =	12
i =	3.5%
Future Value	$ 10,805
The value for Future Value of Annuity for 3.5% at 12 period is 14.6020