SOLUTION: Find the future value, using the future value formula and a calculator. (Round your answer to the nearest cent.) $540 at 5.5% compounded quarterly for 3 years.

Algebra ->  Finance -> SOLUTION: Find the future value, using the future value formula and a calculator. (Round your answer to the nearest cent.) $540 at 5.5% compounded quarterly for 3 years.      Log On


   

Question 712101:
Find the future value, using the future value formula and a calculator. (Round your answer to the nearest cent.) $540 at 5.5% compounded quarterly for 3 years.
Answer by checkley79(3341) About Me  (Show Source):
You can put this solution on YOUR website!
540(1+.055/4)^3*4
540(1+.01375)^12
540*1.01375^12
540*1.178=$636.16 ANS.