Question: Brief Exercise 5-6 (Static) Future value; ordinary annuity (LO5-7) Leslie McCormack is in the spring quarter of her freshman year of college. She and her

 Brief Exercise 5-6 (Static) Future value; ordinary annuity (LO5-7) Leslie McCormack

Brief Exercise 5-6 (Static) Future value; ordinary annuity (LO5-7) 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 4%, compounded quarterly. (Ey of $1. PV of $1. EVA of 51. PVA of $1. EVAD of S1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) How much will she accumulate in three years by depositing $500 at the end of each of the next 12 quarters, beginning three months from now? (Round your final answers to nearest whole dollar amount.) Table or calculator function: FV of $1 Payment: Future Value:

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