QUES 13 Case 5: Amy started a paper route on January 1, 2014. Every three months, she deposited $300 in her bank account, which earned 8 percent annually but was compounded quarterly. On December 31, 2017, she used the entire balance in her bank account to invest in a contract that paid 14 percent annually.

To find how much will she have on December 31, 2020 you are going to apply a two-step process. In the first step, you will calculate for the future value of (ordinary) annuity from January 2014 December 2017. What is the value of N (the number of earning) to calculate for the future value of annuity?

Question 13 options:

	3
	12
	4
	16