Question 144608
The problem:
Solve using the formula for the future value of the annuity at the end of the incidicted time period. The amount, frequency of deposits, annual interest, and the time period are given. amount: $200:quarterly: 8%; 9 years. Here is the formula with correct answer of 10,398.87 which was graded on test.
r/n= .08/4 ; 4*9=36 
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A=200 [( 1 +( 0.08/4))^36 -1] /(0.08/4) = 10,398.87
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Cheers,
Stan H.