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Assume that Claudia started a paper route on January 1, 1970. Since that day, at the end of every
three (3) months (first deposit made on April 1, 1970), she deposited $500.00 into a savings account,
which paid her interest of 4 percent annually but with quarterly compounding. On January 1, 1980,
she took the balance in her savings account and transferred it to an account that paid 11.5% p.a.
Assuming that Claudia did not deposit any additional money into the account after the transfer, how
much did she have in her account on January 1, 2014?
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