SOLUTION: Please Help: Find the future value of the annuity due. $200 deposited at the beginning of each quarter for 7 years at 5% compounded quarterly A) $6739.08 B) $6176.17 C) $

SOLUTION: Please Help: Find the future value of the annuity due. $200 deposited at the beginning of each quarter for 7 years at 5% compounded quarterly A) $6739.08 B) $6176.17 C) $

Algebra.Com

Question 201905: Please Help:
Find the future value of the annuity due.
$200 deposited at the beginning of each quarter for 7 years at 5% compounded quarterly
A) $6739.08
B) $6176.17
C) $1709.82
D) $6455.88

Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=(P*((1+i)^n-1)/i)(1+i)
FV=(200*((1+(.05/4)^28-1)/(.05/4))(1+i)
FV=((200*((1.0125)^28-1)/.0125)(1.0125)
FV=83.1984608/.0125=6655.876864*1.0125=6739.08 (A)
RELATED QUESTIONS
Please help! $1500 deposited at the beginning of each year for 15 years at 5% compounded (answered by rfer)

Please Help: Find the future value of the annuity due. Payments of $2500 made at the... (answered by rfer)

Calculate the future value of the increasing annuity At the end of each quarter year for (answered by ikleyn)

Calculate the future value of the increasing annuity: At the end of each quarter... (answered by Theo)

Find the amount (future value) of the ordinary annuity. $1,400 per quarter for 5 yr at... (answered by Theo)

We have used the formula A = R (1 + i)n − 1 i to find the future value of... (answered by MathLover1,MathTherapy,ikleyn)

What is the value of an annuity if $250 dollars is deposited monthly for 7 years at 12%... (answered by lynnlo)

What is the future value of an annuity due of $5645 paid every six months for three years (answered by ikleyn)

Find the future value of $233.00 deposited at the end of the month for 4 years at 12%... (answered by unlockmath)