Question 1196401
using the financial calculator at <a href = "https://arachnoid.com/finance/index.html" target = "_blank">https://arachnoid.com/finance/index.html</a>, i get fv = 530,235.00.
that's the amount available to him at the end of the 10 year investment period.
here are the results from using that calculator.
<img src = "http://theo.x10hosting.com/2022/091501.jpg">
inputs were:
pv = 0
fv = 0
np = 10 * 4 = 40
pmt = 2480 * 3 = 7440
ir = 11%/4 = 2.75%
payment at end of time period
the time periods are in quarters of a year (every 3 month)
the number of quarters is 10 * 4 = 40
the interest rate per quarter is 11/4 = 2.75%
the payments are made at the end of each quarter.
click on fv and you get future value = 530,235.00.
that's the amount available at the end of the 10 year inversment period.
tghe payments are negative becauser that's the amount going out.
the future value is positive because that's the amount coming in.