<PRE><B>Question 747675</B>

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?

				
{{{highlight_green(FV[oa] = (PMT((1 + i/m)^(mt) - 1))/(i/m))}}}, with:


{{{FV[oa]}}} 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									
													
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