Mark Welsch deposits $7,600 in an account that earns interest at an annual rate of 12%, compounded quarterly. The $7,600 plus earned interest must remain in the account 2 years before it can be withdrawn. How much money will be in the account at the end of 2 years?

(PV of $1, FV of $1, PVA of $1, and FVA of $1

(Use appropriate factor(s) from the tables provided. Round FV factor to 4 decimal places.)

Present Value x f (FV of a Single Amount) = Total Accumulation