Future value

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

Correct answer:

f =  100336.68 USD
i =  40336.68 USD

Step-by-step explanation:

r=4 a=1000 p=6.5%=6.5100=0.065 n=15 r=15 4=60  q=p/r=0.065/4=138000.0163 k=1+q=1+0.0163=8138001.0163 f1=a=1000 f2=[k f1+a]=[1.0163 1000+1000]=80654=2016.25 f3=[k f2+a]=[1.0163 2016.25+1000]=3049.01 f4=[k f3+a]=[1.0163 3049.01+1000]=4098.56 f5=[k f4+a]=[1.0163 4098.56+1000]=5165.16 f6=[k f5+a]=[1.0163 5165.16+1000]=6249.09 f7=[k f6+a]=[1.0163 6249.09+1000]=7350.64 f8=[k f7+a]=[1.0163 7350.64+1000]=8470.09 f9=[k f8+a]=[1.0163 8470.09+1000]=9607.73 f10=[k f9+a]=[1.0163 9607.73+1000]=10763.86 f11=[k f10+a]=[1.0163 10763.86+1000]=11938.77 f12=[k f11+a]=[1.0163 11938.77+1000]=13132.78 f13=[k f12+a]=[1.0163 13132.78+1000]=14346.19 f14=[k f13+a]=[1.0163 14346.19+1000]=15579.32 f15=[k f14+a]=[1.0163 15579.32+1000]=16832.48 f16=[k f15+a]=[1.0163 16832.48+1000]=18106.01 f17=[k f16+a]=[1.0163 18106.01+1000]=19400.23 f18=[k f17+a]=[1.0163 19400.23+1000]=20715.48 f19=[k f18+a]=[1.0163 20715.48+1000]=22052.11 f20=[k f19+a]=[1.0163 22052.11+1000]=23410.46 f21=[k f20+a]=[1.0163 23410.46+1000]=24790.88 f22=[k f21+a]=[1.0163 24790.88+1000]=26193.73 f23=[k f22+a]=[1.0163 26193.73+1000]=27619.38 f24=[k f23+a]=[1.0163 27619.38+1000]=29068.19 f25=[k f24+a]=[1.0163 29068.19+1000]=30540.55 f26=[k f25+a]=[1.0163 30540.55+1000]=32036.83 f27=[k f26+a]=[1.0163 32036.83+1000]=33557.43 f28=[k f27+a]=[1.0163 33557.43+1000]=35102.74 f29=[k f28+a]=[1.0163 35102.74+1000]=36673.16 f30=[k f29+a]=[1.0163 36673.16+1000]=38269.1 f31=[k f30+a]=[1.0163 38269.1+1000]=39890.97 f32=[k f31+a]=[1.0163 39890.97+1000]=2076965=41539.2 f33=[k f32+a]=[1.0163 41539.2+1000]=43214.21 f34=[k f33+a]=[1.0163 43214.21+1000]=44916.44 f35=[k f34+a]=[1.0163 44916.44+1000]=46646.33 f36=[k f35+a]=[1.0163 46646.33+1000]=48404.33 f37=[k f36+a]=[1.0163 48404.33+1000]=50190.9 f38=[k f37+a]=[1.0163 50190.9+1000]=1040132=52006.5 f39=[k f38+a]=[1.0163 52006.5+1000]=53851.61 f40=[k f39+a]=[1.0163 53851.61+1000]=55726.7 f41=[k f40+a]=[1.0163 55726.7+1000]=57632.26 f42=[k f41+a]=[1.0163 57632.26+1000]=59568.78 f43=[k f42+a]=[1.0163 59568.78+1000]=61536.77 f44=[k f43+a]=[1.0163 61536.77+1000]=63536.74 f45=[k f44+a]=[1.0163 63536.74+1000]=65569.21 f46=[k f45+a]=[1.0163 65569.21+1000]=67634.71 f47=[k f46+a]=[1.0163 67634.71+1000]=69733.77 f48=[k f47+a]=[1.0163 69733.77+1000]=71866.94 f49=[k f48+a]=[1.0163 71866.94+1000]=74034.78 f50=[k f49+a]=[1.0163 74034.78+1000]=76237.85 f51=[k f50+a]=[1.0163 76237.85+1000]=78476.72 f52=[k f51+a]=[1.0163 78476.72+1000]=80751.97 f53=[k f52+a]=[1.0163 80751.97+1000]=83064.19 f54=[k f53+a]=[1.0163 83064.19+1000]=85413.98 f55=[k f54+a]=[1.0163 85413.98+1000]=87801.96 f56=[k f55+a]=[1.0163 87801.96+1000]=90228.74 f57=[k f56+a]=[1.0163 90228.74+1000]=92694.96 f58=[k f57+a]=[1.0163 92694.96+1000]=3808054=95201.25 f59=[k f58+a]=[1.0163 95201.25+1000]=97748.27 f60=[k f59+a]=[1.0163 97748.27+1000]=100336.68 f=f60=100336.68 USD=1.0105 USD
i=fn a=100336.6860 1000=40336.68 USD=4.0104 USD



Did you find an error or inaccuracy? Feel free to write us. Thank you!






avatar




Tips to related online calculators
Do you want to round the number?
Do you want to convert time units like minutes to seconds?

Related math problems and questions:

  • Interest
    dollars Calculate how much you earn for $n years $x deposit if the interest rate is $p% and the interest period is a quarter.
  • Compound Interest
    exp_growth2 If you deposit $6000 in an account paying 6.5% annual interest compounded quarterly, how long until there is $12600 in the account?
  • Investment
    penize 1000$ is invested at 10% compound interest. What factor is the capital multiplied by each year? How much will be there after n=12 years?
  • If you 3
    bank2 If you deposit $4500 at 5% annual interest compound quarterly, how much money will be in the account after 10 years?
  • Present value
    exp_growth A bank loans a family $90,000 at 4.5% annual interest rate to purchase a house. The family agrees to pay the loan off by making monthly payments over a 15 year period. How much should the monthly payment be in order to pay off the debt in 15 years?
  • Bank
    money Paul put $a in the bank for $r years. Calculate how much you will have in the bank if he not pick earned interest or change deposit conditions. The annual interest rate is $u%, and the tax on interest is $d%.
  • Retirement annuity
    bankovka How much will it cost to purchase a two-level retirement annuity that will pay $2000 at the end of every month for the first 10 years, and $3000 per month for the next 15 years? Assume that the payment represent a rate of return to the person receiving th
  • Future value investment
    exp_growth Poseidon deposited 2,747 golden drachmas in a Mount Olympus college savings account to ensure Percy can go to college. It pays 0.04 (percent in decimal form) annual interest. After 11 years, he withdraws the money. How much more money would he have if the
  • Savings
    penize Suppose on your 21st birthday you begin making monthly payments of $500 into an account that pays 8% compounded monthly. If you continue the payments untill your 51st birthday (30 years), How much money will be in your account? How much of it is interest?
  • Loan
    loan Apply for a $ 59000 loan, the loan repayment period is 8 years, the interest rate 7%. How much should I pay for every month (or every year if paid yearly). Example is for practise geometric progression and/or periodic payment for an annuity.
  • Deposit
    ping_bank If you deposit 719 euros at the beginning of each year, how much money we have at 1.3% (compound) interest after 9 years?
  • Saving 9
    penize An amount of $ 2000 is invested at an interest of 5% per month. If $ 200 is added at the beginning of each successive month but no withdrawals. Give an expression for the value accumulated after n months. After how many months will the amount has accumula
  • Compound interest 3
    exp_growth2 After 8 years, what is the total amount of a compound interest investment of $25,000 at 3% interest, compounded quarterly? (interest is now dream - in the year 2019)
  • Semiannually compound interest
    bank2 If you deposit $5000 into an account paying 8.25% annual interest compounded semiannually, how long until there is $9350 in the account?
  • You take
    exp_growth You take out Php 20 000 loan at 5% interest rate. If the interest is compounded annually, a. Give an exponential model for the situation b. How much Will you owe after 10 years?
  • Compound interest
    bank Compound interest: Clara deposited CZK 100,000 in the bank with an annual interest rate of 1.5%. Both money and interest remain deposited in the bank. How many CZK will be in the bank after 3 years?
  • Suppose 3
    penize Suppose that a couple invested Php 50 000 in an account when their child was born, to prepare for the child's college education. If the average interest rate is 4.4% compounded annually, a, Give an exponential model for the situation b, Will the money be