Don't you have a formula for annuity future value? Just plug in your numbers.
The only wrinkle is that you need to divide the interest rate by 4, and multiply the periods by 4.
𝑅𝑀 600 is deposited every three months for two years and nine months at
8 % compounded quarterly.
i. Find the future value of this annuity at the end of investment period.
ii. Calculate the interest earned
1 answer
1 answer