SOLUTION: Calculate the future value of the increasing annuity: At the end of each quarter year,for 6 years $1,200 is deposited into an investment paying 3.4% interest compounded quarterly

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Question 1139848: Calculate the future value of the increasing annuity:
At the end of each quarter year,for 6 years $1,200 is deposited into an investment paying 3.4% interest compounded quarterly
Answer by Theo(13342) About Me  (Show Source):
You can put this solution on YOUR website!
inputs to the online calculator at https://arachnoid.com/finance/ are:

present value = 0
future value = 0
number time periods are 6 years * 4 quarters per year = 24 quarters.
payment at the end of each qurter is 1200 (shown as negative because it's money going out).
interest rate per time period = 3.4% / 4 = .85%

click on fv and the calculator tells you that the future value of the payments is $31,798.79

here's the display of the results using this calculator.

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