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Amy started a paper route on January 1, 2014. Every three months, she deposited $350 in her bank account, which earned 8 percent annually but
Amy started a paper route on January 1, 2014. Every three months, she deposited $350 in her bank account, which earned 8 percent annually but was compounded quarterly. On December 31, 2017, she used the entire balance in her bank account to invest in a contract that paid 14 percent annually. What was Amy's balance on December 31, 2017? How much did she receive on December 31, 2020? [Hint.: To solve this problem, you should draw a timeline for your convenience. Carefully count the number of periods! On December 31, 2017 the balance was $6,524, and on December 31, 2020 Amy received $9,665. On December 31, 2017 the balance was $6,592, and On December 31, 2020 Amy received $8,842. On December 31, 2017 the balance was $5,592, and On December 31, 2020 Amy received $8,287. On December 31, 2017 the balance was $5,952, and On December 31, 2020 Amy received $8,824
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