Sam I Am invests $144,000 today at 8% per annum, compounded quarterly. What will the balance of Sam's investment be in 7 years? (Round your answer to the nearest penny.)

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 14E
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Sam I Am invests $144,000 today at 8% per annum, compounded quarterly. What will the balance of Sam's investment be in 7 years? (Round your answer to the nearest penny.) 

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