Plans to continue making additional deposits

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Reference no: EM131818374

Lisa Simpson, age 8 genius, deposits $100 today and plans to continue making additional deposits of $100 at the end of each quarter for the next 13 years into a special off shore account that pays a tax-free 6% nominal annual rate coumpounded quarterly. At the end of 13 years after making 53 deposits, Lisa pays to use the money to go to Europe "to find herself". How much will Lisa have for her future trip to Europe? Round your answer to the nearest dollar.

Reference no: EM131818374

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