Used the entire balance in her bank account to invest

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Reference no: EM132014318

Beverly Hills started a paper route on January 1. Every three months, she deposits $700 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 9 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: EM132014318

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