Future value

Suppose you invested $1000 per quarter over 15 years. 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?

Your answer:

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You need to know the following knowledge to solve this word math problem:

algebra

geometric progression

arithmetic

rounding

basic operations and concepts

exponential function

Units of physical quantities

time
money
power

themes, topics

interest, deposits and loan math

Grade of the word problem

high school

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