SOLUTION: What would be the future value of a loan of $7,000 for 6 years if the bank offered a 10% interest rate compounded quarterly?

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Question 196354: What would be the future value of a loan of $7,000 for 6 years if the bank offered a 10% interest rate compounded quarterly?
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
7,000(1+.10/4)^6*4
7,000(1+.025)^24
7,000(1.025)^24
7,000*1.808725
$12,661.08 ans.