Beverly hills started paper route

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Reference no: EM132016634

Beverly Hills started a paper route on January 1. Every three months, she deposits $400 in her bank account, which earns 8 percent annually but is compounded quarterly. Four years later, she used the entire balance in her bank account to invest in an investment at 12 percent annually.

How much will she have after three more years? Use Appendix A and Appendix C for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Reference no: EM132016634

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