Question 206655
$15,000.00 for 10 years compounded at 10% quarterly results in how many periods?
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Quarterly = once per quarter.  Quarter is 1/4 of a year.
--> 40 periods.
The 10% is per year, so the interest rate per quarter is 2.5% = 0.025.
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FV = $15000*(1+0.025)^40
 = $40275.96