× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
g
3
3
2
J
2
p
2
m
2
h
2
s
2
r
2
d
2
l
2
a
2
Home Q & A Board Science-Related Homework Help Mathematics
New Topic  
Catracho Catracho
wrote...
Posts: 529
Rep: 2 0
5 years ago
Find the future value for the annuity due with given rate
payments of $200 for 7 years at 0.37% compounded quarterly
the future value of the annually due is  $?
Read 170 times
1 Reply

Related Topics

Replies
wrote...
#1
Educator
5 years ago
Use the annuity formula:

\(A=\frac{R\left[\left(1+i\right)^n−1\right]}{i}\)

Where:

A=future value amount
R=regular deposit/payment
i=interest rate per compounding period
n=total number of deposits

R = $200
i = 0.37 / 100 / 4 (quarterly)
n = 7 * 4 (quarterly)

\(A=\frac{200\left[\left(1+0.000925\right)^{28}−1\right]}{0.000925}=5670.49\)
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1140 People Browsing
 115 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 350
  
 323
  
 302
Your Opinion
What's your favorite funny biology word?
Votes: 328
Previous poll results: Which is the best fuel for late night cramming?