Jimmy Hooks returned from his vacation on Capri with a pile of cash from his long lost uncle. Jimmy wants to use compound interest to his advantage. He decides to squirrel away all $100,000 into an account that will pay him
5.5% and compound the interest quarterly. How much will Jimmy have at the end of 15 years when he plans to
retire and sell watches on the street? Show all your work on paper! (5pts)