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Sue started a paper route on January 1. Every three months, she deposits %500 in her bank account, which earns 8 percent annually but is
Sue started a paper route on January 1. Every three months, she deposits %500 in her bank account, which earns 8 percent annually but is compounded quarterly. Four years later, she used the entire balance in her bank account to invest in an investment at 9% annually.
How much will she have after three more years? Use appendix A and Appendix Cfor an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round final answer to 2 decimal places)
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