How much will she accumulate in three years

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Reference no: EM131969214

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 16%, 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.)

How much will she accumulate in three years by depositing $760 at the end of each of the next 12 quarters, beginning three months from now?

Reference no: EM131969214

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