SOLUTION: The future value of ordinary annuitites. $4000.00 annuity payment Payment every 3 months Time Period(years) 6 Nominal Rate 8% interest compounded quarterly What is the future

SOLUTION: The future value of ordinary annuitites. $4000.00 annuity payment Payment every 3 months Time Period(years) 6 Nominal Rate 8% interest compounded quarterly What is the future

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Question 433253: The future value of ordinary annuitites.
$4000.00 annuity payment
Payment every 3 months
Time Period(years) 6
Nominal Rate 8%
interest compounded quarterly
What is the future value of the annuity?
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
The future value of the annuity is:
FV=P(1+rate/periods)^(year x periods)
FV=4000(1+.02)^24
FV=6433.75
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