Use Future Value and Present Value Tables to Apply Compound Interest to Accounting Transactions

Use Future Value of a Single Amount, Present Value of a Single Amount, Future Value of an Annuity and Present Value of an Annuity, or your calculator, to complete the requirement below.

Kristen Quinn makes equal deposits of $500 semiannually for 4 years.

Required:

What is the future value at 8%? Round factors to five decimal places and final answer to the nearest cent.

12,409.62 x

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