An investor contributes $847.00 per quarter in an account that pays 4.00% APR with quarterly compounding. The first contribution will be made next quarter. What is the future value of this account in 17.00 years? Submit Answer format: Currency: Round to: 2 decimal places.

An investor contributes $847.00 per quarter in an account that pays 4.00% APR with quarterly compounding. The first contribution will be made next quarter. What is the future value of this account in 17.00 years? Submit Answer format: Currency: Round to: 2 decimal places.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA3: Time Value Of Money

Section: Chapter Questions

Problem 3CE

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An investor contributes $847.00 per quarter in an account that pays 4.00% APR with quarterly compounding. The first
contribution will be made next quarter. What is the future value of this account in 17.00 years?
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Answer format: Currency: Round to: 2 decimal places.

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