1. **State the problem:** We need to find the future value of quarterly rent payments of 6800 each, deposited in an account with 7% annual interest compounded quarterly, over one year. 2. **Formula used:** The future value of an annuity with payments made at the beginning of each period (annuity due) is given by: $$FV = P \times \frac{(1 + i)^n - 1}{i} \times (1 + i)$$ where: - $P$ is the payment per period, - $i$ is the interest rate per period, - $n$ is the number of periods. 3. **Identify values:** - $P = 6800$ - Annual interest rate = 7% or 0.07 - Compounded quarterly means $i = \frac{0.07}{4} = 0.0175$ - Number of quarters in one year $n = 4$ 4. **Calculate:** Calculate the term $(1 + i)^n$: $$ (1 + 0.0175)^4 = 1.0175^4 $$ Calculate this value: $$ 1.0175^4 \approx 1.071859 $$ 5. **Calculate the fraction:** $$ \frac{1.071859 - 1}{0.0175} = \frac{0.071859}{0.0175} \approx 4.1051 $$ 6. **Calculate future value:** $$ FV = 6800 \times 4.1051 \times 1.0175 \approx 6800 \times 4.1783 = 28419.96 $$ 7. **Interpretation:** The future value of the rent payments after one year, with interest compounded quarterly, is approximately 28419.96. **Final answer:** $$\boxed{28419.96}$$