At the end of each quarter, Patti deposits $1800 into an account that pays 12% interest...

  

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At the end of each quarter, Patti deposits $1800 into an account that pays 12% interest compounded quarterly. How much will Patti have in the account in 4 years? Present and future value tables of $1 at 3% are presented below: FV $1 FVA $1 N 1 2 3 4 5 SHENESSONS 10 11 12 13 14 15 16 1.03000 1.06090 PV $1 0.97087 0.94260 1.09273 0.91514 1.12551 0.88849 1.15927 0.86261 1.19405 0.83748 1.22987 0.81309 1.26677 0.78941 1.30477 0.76642 1.34392 0.74409 1.38423 0.72242 1.42576 0.70138 1.46853 0.68095 1.51259 0.66112 1.55797 0.64186 1.60471 0.62317 1.0000 2.0300 3.0909 4.1836 5.3091 6.4684 7.6625 8.8923 PVA $1 0.97087 1.91347 2.82861 3.71710 4.57971 5.41719 6.23028 7.01969 10.1591 7.78611 11.4639 8.53020 12.8078 9.25262 14.1920 9.95400 15.6178 10.63496 17.0863 11.29607 18.5989 11.93794 20.1569 12.56110 FVAD $1 1.0300 2.0909 3.1836 4.3091 5.4684 6.6625 7.8923 9.1591 10.4639 11.8078 13.1920 14.6178 16.0863 17.5989 19.1569 20.7616 PVAD $1 1.00000 1.97087 2.91347 3.82861 4.71710 5.57971 6.41719 7.23028 8.01969 8.78611 9.53020 10.25262 10.95400 11.63496 12.29607 12.93794 At the end of each quarter, Patti deposits $1800 into an account that pays 12% interest compounded quarterly. How much will Patti have in the account in 4 years? Present and future value tables of $1 at 3% are presented below: FV $1 FVA $1 N 1 2 3 4 5 SHENESSONS 10 11 12 13 14 15 16 1.03000 1.06090 PV $1 0.97087 0.94260 1.09273 0.91514 1.12551 0.88849 1.15927 0.86261 1.19405 0.83748 1.22987 0.81309 1.26677 0.78941 1.30477 0.76642 1.34392 0.74409 1.38423 0.72242 1.42576 0.70138 1.46853 0.68095 1.51259 0.66112 1.55797 0.64186 1.60471 0.62317 1.0000 2.0300 3.0909 4.1836 5.3091 6.4684 7.6625 8.8923 PVA $1 0.97087 1.91347 2.82861 3.71710 4.57971 5.41719 6.23028 7.01969 10.1591 7.78611 11.4639 8.53020 12.8078 9.25262 14.1920 9.95400 15.6178 10.63496 17.0863 11.29607 18.5989 11.93794 20.1569 12.56110 FVAD $1 1.0300 2.0909 3.1836 4.3091 5.4684 6.6625 7.8923 9.1591 10.4639 11.8078 13.1920 14.6178 16.0863 17.5989 19.1569 20.7616 PVAD $1 1.00000 1.97087 2.91347 3.82861 4.71710 5.57971 6.41719 7.23028 8.01969 8.78611 9.53020 10.25262 10.95400 11.63496 12.29607 12.93794

Answer rating: 100% (QA)

To calculate the future value of Pattis account in 4 years we need to use the compound ... View the full answer