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Jill starts to save at age 25 for a vacation home that she wants to buy for her 50th birthday. She will contribute $2500 each year to an account, which earns 1.3% annual interest, compounded quarterly. What is the future value of this investment, rounded to the nearest dollar, when Jill is ready to purchase the vacation home?

$73,712

$73,951

$294,847

$295,806

Question

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Jill starts to save at age 25 for a vacation home that she wants to buy for her 50th birthday. She will contribute $2500 each year to an account, which earns 1.3% annual interest, compounded quarterly. What is the future value of this investment, rounded to the nearest dollar, when Jill is ready to purchase the vacation home?
 
$73,712 

$73,951 

$294,847 

$295,806

anonymous · Answer

@ivettef365 @mathmate @mathstudent55 @NaCl

ankit042 · Answer

Are the payments made every quarter?
IF that is true I am getting A as the answer