John Whitten is one of the physicians on staff at Metropolis Health System. His practice is six years old. He has set up an office savings account to accumulate the funds to replace equipment in his practice. Today John is trying to figure what his equipment fund will amount to in four more years.

The equipment fund savings account presently has a balance of $63,500 and any interest earned over the next four years will be left in the account. John assumes the annual interest rate will be 5 percent. How much money will be in the account at the end of four more years? Show your work

1) Compute how much money will be in the account at the end of four more years. Use the Future Value or Compound Interest Table.Show you work