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Leslie McCormack is in the spring quarter of her freshman year of college. She and her friends already are planning a trip to Europe after graduation in a little over three years. Leslie would like to contribute to a savings account over the next three years in order to accumulate enough money to take the trip. Assume an interest rate of 18%, compounded quarterly. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
Problem 1: How much will Leslie accumulate in three years by depositing $780 at the beginning of each of the next 12 quarters?
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Is there a way to get a reference to go by to know how to answer the ratio questions off of the assignment of the jcpennys and kohls 10K? Understand the formulas just not the jargon that is on the 10K to compare with my text.
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