SOLUTION: Can anyone tell me the formula for this?
Find the value of an ordinary annuity at the end of 5 years, if the monthly deposit is $500, compounded quarterly at 9% for those 5 year
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Question 747675: Can anyone tell me the formula for this?
Find the value of an ordinary annuity at the end of 5 years, if the monthly deposit is $500, compounded quarterly at 9% for those 5 years?
Answer by MathTherapy(10552) (Show Source): You can put this solution on YOUR website!
Can anyone tell me the formula for this?
Find the value of an ordinary annuity at the end of 5 years, if the monthly deposit is $500, compounded quarterly at 9% for those 5 years?
, with:
being future value of ordinary annuity
PMT being payment, per period
i being interest rate
m being amount of annual compounding periods
t being time, in years
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