Jessica places the amount of $470 in an account for her favorite charity. One of the provisions of the account is that the charity cannot spend the money for 11 years. The account provides an interest rate of 6.00% per year over the life of the investment. In addition, the account compounds interest 2 times per year. Calculate to the nearest dollar and cents the future value of the account at the time the charity can spend the money.

Place your answer in dollars and cents. Do not include a dollar sign or comma in your answer. You must work your analysis to at least four decimal places of accuracy

Answer rating: 100% (QA)

Future Value Principal x 1 Interest RateNumb... View the full answer