Mark Welsch deposits $7,600 in an account that earns interest at an annual rate of 4%,...

Transcribed Image Text:

Mark Welsch deposits $7,600 in an account that earns interest at an annual rate of 4%, compounded quarterly. The $7,600 plus earned interest must remain in the account 1 years before it can be withdrawn. How much money will be in the account at the end of 1 years? (PV of $1. FV of $1. PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Present Value Table Factor Total Accumulation 7,600 Mark Welsch deposits $7,600 in an account that earns interest at an annual rate of 4%, compounded quarterly. The $7,600 plus earned interest must remain in the account 1 years before it can be withdrawn. How much money will be in the account at the end of 1 years? (PV of $1. FV of $1. PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Present Value Table Factor Total Accumulation 7,600

Answer rating: 100% (QA)

Answer Given Present ValuePV 7600 Compounding Periods ... View the full answer