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Leslie McCormack is in the spring quarter of her freshman year of college. She and her friends already are planning a trip to Europe
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 18%, compounded quarterly. (EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) How much will Leslie accumulate in three years by depositing $540 at the beginning of each of the next 12 quarters? (Round your interest rate to 1 decimal place.) Table or calculator function: Payment: Future Value S=
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