Kaitlyn has analyzed her ($ 12,862.50) quarterly budget using the (50-30-20) budget philosophy, and sees she should
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Kaitlyn has analyzed her \(\$ 12,862.50\) quarterly budget using the \(50-30-20\) budget philosophy, and sees she should be saving or paying down debt with \(\$ 2,572.50\) per quarter. She decides to invest \(\$ 1,300\) quarterly a mutual fund that reports an average return of \(11.62 \%\) over the 18 -year life of the mutual fund. Assuming that this interest rate continues, and is compounded quarterly, how much will her mutual fund account be worth after 5 years?
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