60.1K

Verified Solution

Link Copied!

Present and future value tables of $1 at 3% are presented below:

N FV $1

$1

1.03000 0.97087

|1.06090 0.94260

1.092730.91514

1.12551 0.88849

PV

FVA $1

1.00000.97087 1.0300

2.0300 1.91347

3.0909 2.82861 3. 1836

PVA $1 FVAD $1

PVAD $1

1.00000

1.97087

2.91347

2

2.0909

4.18363.71710

5.30914.57971 5.4684

4.3091 3.82861

4.71710

5.57971

6.41719

9.1591 7.23028

51.15927 0.86261

1.194050.837486.4684 5.41719 6.6625

1.22987 0.81309

6

7.66256.23028

7.8923

8.8923 7.01969

8 1.26677 0.78941

1.30477 0.76642 10.15917.78611

10. 46398.01969

11.4639 | 8.53020 11.80788.78611

11 1.38423 0.72242 12.8078 9.25262 13.1920 9.53020

12 1.42576 0.70138 14.19209.95400 14.6178 10.25262

16.0863 10.95400

11.63496

18.5989 11.93794 19.156912.29607

20.156912.56110 20.7616 12.93794

10 1.34392 0.74409

15.6178 10.63496

13 1.46853 0.68095

14

15

16 1.60471 0.62317

|1.51259 0.66112 17.0863 11.29607 17.5989

1.55797 0.64186

At the end of each quarter, Patti deposits $1,700 into an account that pays 12% interest compounded quarterly. How much will Patti have in the account in

4 years?

Present and future value tables of $1 at 3% are presented below. N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000 2 (1.06090 0.94260 2.0300 1.91347 2.0909 1.97087 3 1.09273 0.91514 3.0909 2.82861 3. 1836 2.91347 42.12551 0.88849 4.1836 3.71710 4.3091 3.82861 5 1.15927 0.86261 5.3891 4.57971 5.4684 4.71710 6 1.19405 0.83748 6.4684 5.41719 6.6625 5.57971 7 1.22987 0.81309 7.6625 6.23028 7.8923 6.41719 8 1.26677 0.78941 8.8923 7.01969 9. 1591 7.23028 9 1.30477 0.76642 18.1591 7.78611 10.4639 8.1969 10 11.34392 0.74409 11.4639 8.53020 11.8078 8.78611 11 1.38423 0.72242 12.8078 9.25262 13. 1920 9.53020 12 1.42576 0.70138 14. 1920 9.95400 14.6178 18.25262 13 1.46853 0.68095 15.6178 10.63496 16.0863 10.95400 14 1.51259 0.66112 17.0863 11.29607 17.5989 (11.63496 15 11.55797 10.64186 18.5989 11.93794 19.1569 12.29607 16 1.68471 0.62317 20. 1569 12.56110 20.7616 12.93794 At the end of each quarter, Patti deposits 51700 into an account that pays 12 interest compounded quarterly. How much will Potts have in the account in 4 years

Answer & Explanation Solved by verified expert

See Answer