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Assume that Claudia started a paper route on January 1, 1970. Since that day, at...

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Accounting

Assume that Claudia started a paper route on January 1, 1970. Since that day, at the end of every

three (3) months (first deposit made on April 1, 1970), she deposited $500.00 into a savings account,

which paid her interest of 4 percent annually but with quarterly compounding. On January 1, 1980,

she took the balance in her savings account and transferred it to an account that paid 11.5% p.a.

Assuming that Claudia did not deposit any additional money into the account after the transfer, how

much did she have in her account on January 1, 2014?

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