Question: Exercise B - 5 ( Algo ) Future value of an amount LO P 2 Mark Welsch deposits $ 7 , 4 0 0 in

Exercise B-5(Algo) Future value of an amount LO P2
Mark Welsch deposits $7,400 in an account that earns interest at an annual rate of 12%, compounded quarterly. The $7,400 plus earned interest must remain in the account 5 years before it can be withdrawn. How much money will be in the account at the end of 5 years? (PV of $1 FV of $1, PVA of $1, and FVA of $1)
Note: Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.
\table[[,alue,,,Table Factor,Total Accumulation],[$,7,400,x,-,,=
 Exercise B-5(Algo) Future value of an amount LO P2 Mark Welsch

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