Question 1127483
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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:


p = 80000
f = what you want to find
r = 6.15% interest per year compounded quarterly = 0.0615/4 per quarter
n = 4*18 = 72 compounding periods


formula becomes f = 80000 * (1 + 0.0615/4)^72


Calculate to get f = 239991.33.
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