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 of 12%, 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 $720 at the beginning of each of the next 12 quarters?

NEEDED...

TABLE OR CALCULATOR FUNCTION...?

PAYMENT...?

N=..?

I=...?

FUTURE VALUE...?