Asked by Mary Ann
Find the future value, using the future value formula. Round the answer to the nearest cent.
$625 @ 5.5% compounded quarterly for 3 years.
$625 @ 5.5% compounded quarterly for 3 years.
Answers
Answered by
Damon
.055/4 = .01375 per quarter
3 * 4 = 12 quarters
625 * 1.01375^12 = 736.29
3 * 4 = 12 quarters
625 * 1.01375^12 = 736.29
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