When Maria was born, her parents set up a savings account for her with $1000. The account pays 5% annual interest and it is compounded quarterly? How much money will Maria have when she turns 18. Round your answer to the nearest whole number.
Periods = 4 x 18 = 72
interest per period .05 / 4
1000 ( 1+ .05/4)72 reperesents the money when she turns 18