i = .055/4 = .01375
n = 5(4) = 20
amount = 864(1.01375)^20 = ....
Find the future value, using the future value formula and a calculator. (Round your answer to the nearest cent.)
$864 at 5.5% compounded quarterly for 5 years
2 answers
Great that's exactly what I got
1135.35
1135.35
1 answer