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Module 0 8 Homework: Problem 2 1 ( 1 point ) Future Value of an Annuity Richard S Flores McDonald's major distribution partner, The Martin

Module 08 Homework: Problem 21
(1 point)
Future Value of an Annuity
Richard S Flores
McDonald's major distribution partner, The Martin-Brower Company, needs at least $1 million to build new warehouse in Medicine Hat 2 years from today. To date, it has invested $470,000.00. If it continues to invest $51,000.00 at the end of every quarter into a fund earning 7% quarterly, will it have enough money to build the warehouse 2 years from now? How much money will it have?
The Martin-Brower Company's $470,000.00 will have grown to and its $51,000.00 deposits will have grown to , for a total of Thus, it have enough money 2 years from now.
Note: You can earn partial credit on this problem.
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