Question
Leslie McCormack is in the spring quarter of her freshman year of college. she and her friends already are planning a trip to Europe after
Leslie McCormack is in the spring quarter of her freshman year of college. she and her friends already are planning a trip to Europe after graduation in a little over three years. Leslie would like to contribute to a savings account over the next three years in order to accumulate enough money to take the trip. assume an interest rate is 4%, compounded quarterly. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (use appropriate factor (s) from the tables provided.) how much will leslie accumulate in three years by depositing $640 at the beginning of each of the next 12 quarters? (round your final answer to the nearest whole dollar amount.)
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