SOLUTION: What is the future value of an initial investment of $8000 at annual rate of 8% interest compounded quarterly for 4 years?

SOLUTION: What is the future value of an initial investment of $8000 at annual rate of 8% interest compounded quarterly for 4 years?

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Question 633347: What is the future value of an initial investment of $8000 at annual rate of 8% interest compounded quarterly for 4 years?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=8000(1+0.08/4)^4*4
FV=8000(1.02)^16
FV=8000(1.372786)
FV=$10,982.30
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