At the end of each quarter, Patti deposits $1,600 into an account that pays 12% interest compounded quarterly. How much will Patti have in the account in three years? (FV of $1, PV of $1, FVA of $1, and PVA of $1). (Use appropriate factor(s) from the tables provided.)
Multiple Choice
$24,307
$22,707
$27,507
$24,007