Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Present and future value tables of $1 at 3% are presented below: N FV $1 $1 1.03000 0.97087 |1.06090 0.94260 1.092730.91514 1.12551 0.88849 PV FVA
Present and future value tables of $1 at 3% are presented below: N FV $1 $1 1.03000 0.97087 |1.06090 0.94260 1.092730.91514 1.12551 0.88849 PV FVA $1 1.00000.97087 1.0300 2.0300 1.91347 3.0909 2.82861 3. 1836 PVA $1 FVAD $1 PVAD $1 1.00000 1.97087 2.91347 2 2.0909 4.18363.71710 5.30914.57971 5.4684 4.3091 3.82861 4.71710 5.57971 6.41719 9.1591 7.23028 51.15927 0.86261 1.194050.837486.4684 5.41719 6.6625 1.22987 0.81309 6 7.66256.23028 7.8923 8.8923 7.01969 8 1.26677 0.78941 1.30477 0.76642 10.15917.78611 10. 46398.01969 11.4639 | 8.53020 11.80788.78611 11 1.38423 0.72242 12.8078 9.25262 13.1920 9.53020 12 1.42576 0.70138 14.19209.95400 14.6178 10.25262 16.0863 10.95400 11.63496 18.5989 11.93794 19.156912.29607 20.156912.56110 20.7616 12.93794 10 1.34392 0.74409 15.6178 10.63496 13 1.46853 0.68095 14 15 16 1.60471 0.62317 |1.51259 0.66112 17.0863 11.29607 17.5989 1.55797 0.64186 At the end of each quarter, Patti deposits $1,700 into an account that pays 12% interest compounded quarterly. How much will Patti have in the account in 4 years? Present and future value tables of $1 at 3% are presented below. N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000 2 (1.06090 0.94260 2.0300 1.91347 2.0909 1.97087 3 1.09273 0.91514 3.0909 2.82861 3. 1836 2.91347 42.12551 0.88849 4.1836 3.71710 4.3091 3.82861 5 1.15927 0.86261 5.3891 4.57971 5.4684 4.71710 6 1.19405 0.83748 6.4684 5.41719 6.6625 5.57971 7 1.22987 0.81309 7.6625 6.23028 7.8923 6.41719 8 1.26677 0.78941 8.8923 7.01969 9. 1591 7.23028 9 1.30477 0.76642 18.1591 7.78611 10.4639 8.1969 10 11.34392 0.74409 11.4639 8.53020 11.8078 8.78611 11 1.38423 0.72242 12.8078 9.25262 13. 1920 9.53020 12 1.42576 0.70138 14. 1920 9.95400 14.6178 18.25262 13 1.46853 0.68095 15.6178 10.63496 16.0863 10.95400 14 1.51259 0.66112 17.0863 11.29607 17.5989 (11.63496 15 11.55797 10.64186 18.5989 11.93794 19.1569 12.29607 16 1.68471 0.62317 20. 1569 12.56110 20.7616 12.93794 At the end of each quarter, Patti deposits 51700 into an account that pays 12 interest compounded quarterly. How much will Potts have in the account in 4 years
Present and future value tables of $1 at 3% are presented below:
N FV $1
$1
1.03000 0.97087
|1.06090 0.94260
1.092730.91514
1.12551 0.88849
PV
FVA $1
1.00000.97087 1.0300
2.0300 1.91347
3.0909 2.82861 3. 1836
PVA $1 FVAD $1
PVAD $1
1.00000
1.97087
2.91347
2
2.0909
4.18363.71710
5.30914.57971 5.4684
4.3091 3.82861
4.71710
5.57971
6.41719
9.1591 7.23028
51.15927 0.86261
1.194050.837486.4684 5.41719 6.6625
1.22987 0.81309
6
7.66256.23028
7.8923
8.8923 7.01969
8 1.26677 0.78941
1.30477 0.76642 10.15917.78611
10. 46398.01969
11.4639 | 8.53020 11.80788.78611
11 1.38423 0.72242 12.8078 9.25262 13.1920 9.53020
12 1.42576 0.70138 14.19209.95400 14.6178 10.25262
16.0863 10.95400
11.63496
18.5989 11.93794 19.156912.29607
20.156912.56110 20.7616 12.93794
10 1.34392 0.74409
15.6178 10.63496
13 1.46853 0.68095
14
15
16 1.60471 0.62317
|1.51259 0.66112 17.0863 11.29607 17.5989
1.55797 0.64186
At the end of each quarter, Patti deposits $1,700 into an account that pays 12% interest compounded quarterly. How much will Patti have in the account in
4 years?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started