Question 1102878
f = p * (1+r)^n


f is the future value
p is the present value
r is the interest rate per time period.
n is the number of time periods.


in your problem.


f = what you want to find
p = 10,000
r = 9.54% / 100 = .0954 / 4 compounding periods per year = .02385 per quarter.
n = 3.5 years * 4 compounding periods per year = 14 quarters.


equation becomes f = 10,000 * (1 + .02385) ^ 14


solve for f to get f = 13,909.40923 = 13,909.41 rounded to the nearest penny.


10,000 is entered into the formula without the comma.
comma is added to the output to make it more readable.