SOLUTION: calculate the future value of $
10,000 received today and deposited for 6 years in an account which pays interest of 12 percent compounded quaterly
Algebra.Com
Question 946635: calculate the future value of $
10,000 received today and deposited for 6 years in an account which pays interest of 12 percent compounded quaterly
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=1000(1+0.12/4)^(6*4)
FV=10000(1.03)^24
FV=10000(2.0327941)
FV=$20,327.94
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