Victor French made deposits of $5,000 at the end of each quarter to Book Bank, which pays 8% interest compounded quarterly. After 3 years, Victor made no more deposits. What will be the balance in the account 2 years after the last deposit? (Use the Table and Table 12.1.) Note: Do not round intermediate calculations. Round your answer to the nearest cent. Account balance TABLE 13.1 Ordinary annuity table: Compound sum of an annuity of $1 2% 1.0000 3% 1.0000 1.0000 2.0050 2.0200 2.0300 3.0150 3.0604 3.0909 4.0301 4.1216 4.1836 5.0503 5.2040 5.3091 6.0755 6.1520 6.3081 6.4684 7.1059 7.2135 7.4343 7.6625 8.1414 8.5829 8.8923 8.2857 9.3685 9.7546 10.1591 11.5668 12.1687 12.8078 12.6825 13.4120 9.1821 10.2280 10.4622 10.9497 11.4639 11.2792 12.3356 13.3973 13.8093 14.6803 14.4643 14.9474 15.9739 16.0969 17.2934 18.5989 17.2579 18.6393 20.1569 14.1920 15.6178 16.6268 17.0863 18.2919 20.0236 21.8245 15.5365 21.0150 23.2759 25.6725 16.6142 17.6973 18.4304 20.0120 21.7616 23.6975 28.2128 18.7858 23.4144 25.6454 30.9056 19.8797 19.6147 21.4122 20.8109 22.8405 22.0190 24.2973 25.1169 27.6712 30.5389 33.7599 33.0659 36.7855 40.9954 20.9791 26.8704 29.7781 26.5591 28.2432 32.0302 36.4593 41.6459 47.7270 32.2801 34.7849 40.5679 47.5754 56.0849 66.4386 44.1589 48.8864 60.4017 75.4012 95.0254 120.7993 154.7616 56.6452 64.4632 84.5790 112.7968 152.6669 209.3470 290.3351 54.8644 79.0580 Note: This is only a sampling of tables available. The Business Math Handbook shows tables from 1/2 % to 15%. Period 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 25 30 40 50 1/2% 1% 1.0000 2.0100 3.0301 4.0604 5.1010 4% 5% 1.0000 1.0000 2.0400 2.0500 3.1216 3.1525 4.2465 4.3101 5.4163 5.5256 6.6330 6.8019 7.8983 8.1420 9.2142 9.5491 10.5828 11.0265 12.5779 12.0061 13.4863 14.2068 15.0258 15.9171 17.7129 19.5986 21.5785 23.6574 25.8403 28.1323 ola 6% 1.0000 7% 1.0000 2.0600 2.0700 3.1836 3.2149 4.3746 4.4399 5.6371 5.7507 6.9753 7.1533 8.3938 8.6540 9.8975 10.2598 11.4913 11.9780 13.1808 14.9716 16.8699 18.8821 8% 1.0000 9% 1.0000 10% 1.0000 2.0800 2.0900 2.1000 3.2464 3.2781 3.3100 4.5061 4.5731 4.6410 5.8666 5.9847 6.1051 7.3359 7.5233 7.7156 8.9228 9.2004 9.4872 10.6366 11.0285 11.4359 12.4876 13.0210 13.5795 14.7757 13.8164 14.4866 15.1929 15.9374 16.7220 17.5487 16.6455 17.5603 18.5312 19.5614 20.6546 15.7836 17.8884 21.3843 22.7132 24.1331 18.9771 20.1407 22.9534 24.5227 26.2116 28.0291 20.1406 21.4953 22.5505 24.2149 26.0192 27.9750 30.0949 32.3926 25.1290 27.1521 29.3609 31.7725 34.4054 37.2797 27.8880 30.3243 33.0034 35.9497 39.1899 42.7533 30.8402 33.7503 36.9737 40.5447 44.5008 48.8837 33.9990 37.4503 41.3014 45.5992 50.3959 55.7497 37.3789 41.4463 46.0185 51.1591 56.9395 63.4397 45.7620 51.1602 57.2750 64.2028 72.0524 73.1060 84.7010 98.3471 114.4133 133.3338 241.3327 63.2489 94.4606 113.2833 136.3077 164.4941 199.0209 199.6346 259.0569 337.8831 442.5928 581.8260 767.0913 406.5277 573.7711 815.0853 1163.9090 1668.7710 2400.0180 11% 12% 1.0000 2.1200 3.3744 4.7793 6.3528 8.1152 10.0890 12.2997 1.0000 2.1100 3.3421 4.7097 6.2278 7.9129 9.7833 11.8594 14.1640 TABLE 12.1 Future value of $1 at compound interest Period 12% 1% 1% 2% 7% 8% 9% 10% 1 1.0050 1.0100 1.0150 1.0200 1.0700 1.0800 1.0900 1.1000 2 1.0100 1.0201 1.0302 1.0404 1.1664 1.1881 1.2100 1.1449 1.2250 1.0151 1.0303 1.0457 1.0612 1.2597 1.2950 1.3310 1.0202 1.0406 1.0614 1.0824 1.3108 1.3605 1.4116 1.4641 5 1.0253 1.0510 1.0773 1.3382 1.4026 1.4693 1.5386 1.6105 1.1255 1.1699 1.1041 1.1593 1.2167 1.2763 1.1262 1.1941 1.2653 1.3401 1.1487 1.2299 1.3159 1.4071 1.4185 1.5007 1.5869 1.6771 1.7716 1.9487 1.5036 1.6058 1.7138 1.8280 1.7182 1.8509 1.9926 8 2.1436 9 1.8385 1.9990 2.1719 2.3579 2.5937 1.0564 1.1157 2.8531 1.0617 1.1268 1.1960 3.1384 1.2135 3.4523 3.7975 4.1772 1.0831 1.1726 1.8730 2.1829 2.5404 2.9522 3.7000 4.3276 6 1.0304 1.0615 1.0934 7 1.0355 1.0721 1.1098 1.0407 1.0829 1.1265 1.1717 1.2668 1.3686 1.4775 1.5938 1.0459 1.0937 1.1434 1.1951 1.3048 1.4233 1.5513 1.6895 1.0511 1.1046 1.1605 1.2190 1.3439 1.4802 1.6289 1.7908 1.9672 2.1589 2.3674 1.1780 1.2434 1.3842 1.5395 1.7103 1.8983 2.1049 2.3316 2.5804 1.2682 1.4258 1.6010 1.7959 2.0122 2.2522 2.5182 2.8127 1.0670 1.1381 1.2936 1.4685 1.6651 1.8856 2.1329 2.4098 2.7196 3.0658 1.0723 1.1495 1.2318 1.3195 1.5126 1.7317 1.9799 2.2609 2.5785 2.9372 3.3417 1.0777 1.1610 1.2502 1.3459 1.5580 1.8009 2.0789 2.3966 2.7590 3.1722 3.6425 1.2690 1.3728 1.6047 3.4259 3.9703 4.5950 1.0885 1.1843 1.2880 1.4002 1.6528 1.9479 2.2920 2.6928 3.1588 5.0545 1.0939 1.1961 1.3073 1.4282 1.7024 2.0258 2.4066 2.8543 3.3799 1.0994 1.2081 1.3270 1.4568 1.7535 2.1068 2.5270 3.0256 3.6165 1.1049 1.2202 1.3469 1.4859 1.8061 2.1911 2.6533 3.2071 3.8697 1.5157 1.8603 2.2788 2.7860 1.546 1.9161 2.3699 2.9253 1.1216 1.2572 1.4084 1.5769 1.9736 2.4647 3.0715 1.1272 1.2697 1.4295 1.6084 2.0328 2.5633 3.2251 1.4510 1.6406 2.0938 2.6658 3.3864 1.4727 1.6734 2.1566 2.7725 3.5557 4.5494 5.8074 2.8834 3.7335 4.8223 6.2139 7.9881 10.2451 13.1100 2.9987 3.9201 5.1117 6.6488 8.6271 11.1672 14.4210 1.1556 1.3345 1.5400 3.1187 4.1161 5.4184 7.1143 9.3173 12.1722 15.8631 1.1614 1.3478 1.5631 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.0627 13.2677 17.4494 3.9960 4.7171 5.5599 4.3157 5.1417 6.1159 4.6610 5.6044 6.7275 5.0338 6.1088 7.4002 1.1104 1.2324 1.3671 1.1160 1.2447 1.3876 3.3996 4.1406 3.6035 4.4304 5.4365 6.6586 8.1403 5.8715 7.2579 8.9543 3.8197 4.7405 4.0489 5.0724 6.3412 7.9111 9.8497 1.1328 1.2824 4.2919 5.4274 6.8485 8.6231 10.8347 1.1385 1.2953 7.3964 9.3992 11.9182 1.1442 1.3082 1.4948 1.7069 2.2213 1.1499 1.3213 1.5172 1.7410 2.2879 1.7758 2.3566 Note: For more detailed tables, see your reference booklet, the Business Math Handbook. 3 4 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 3% 4% 5% 6% 1.0300 1.0400 1.0500 1.0600 1.0816 1.1025 1.1236 1.0609 1.0927 1.1249 1.1576 1.1910 1.2155 1.2625