SOLUTION: Can anyone tell me the formula for this? Find the value of an ordinary annuity at the end of 5 years, if the monthly deposit is $500, compounded quarterly at 9% for those 5 year

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Question 747675: Can anyone tell me the formula for this?
Find the value of an ordinary annuity at the end of 5 years, if the monthly deposit is $500, compounded quarterly at 9% for those 5 years?
Answer by MathTherapy(10552) About Me  (Show Source):
You can put this solution on YOUR website!

Can anyone tell me the formula for this?
Find the value of an ordinary annuity at the end of 5 years, if the monthly deposit is $500, compounded quarterly at 9% for those 5 years?

, with:

FV%5Boa%5D being future value of ordinary annuity

PMT being payment, per period

i being interest rate

m being amount of annual compounding periods

t being time, in years