SOLUTION: Find the future value of the ordinary annuity. Interest is compounded annually, unless otherwise indicated. R = $10,000, i = 3% interest compounded quarterly for 7 years

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Question 1097206: Find the future value of the ordinary annuity. Interest is compounded annually, unless otherwise indicated.

R = $10,000, i = 3% interest compounded quarterly for 7 years
Answer by jorel1380(3719) About Me  (Show Source):
You can put this solution on YOUR website!
.03/4=.0075
10,000*(1+0.0075)^(7x4)=10,000*(1.0075)^28=$ 12327.1174757 as the future value
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