Future value

Suppose you invested $1000 per quarter over a 15 years period. If money earns an annual rate of 6.5% compounded quarterly, how much would be available at the end of the time period? How much is the interest earned?

Correct answer:

f =  100336.68 USD
i =  40336.68 USD

Step-by-step explanation:

i=fn a=100336.6860 1000=40336.68 USD=4.0104 USD

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