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Kyle is the beneficiary of a trust fund. He receives a payment at the end of each quarter for 23 years. The first payment is
Kyle is the beneficiary of a trust fund. He receives a payment at the end of each quarter for 23 years. The first payment is 200. The second payment is 400. The third payment is 600. The payments continue to increase so that each payment is 200 greater than the previous payment. Kyle takes each payment and invests in a fund earning 8.8% compounded quarterly. How much does Kyle have in the fund at the end of 23 years? (Round your answer to the nearest 2 decimal places.)
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