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July 23, 2014

July 23, 2014

Posted by **Thara!** on Wednesday, April 21, 2010 at 10:51pm.

I solved for both which i got

aFV= $10483.34

bFV= $16322.67

to get this answer i used this formula: FV=PMT((1+i)^n))-1/i

i just dont know what i should do now?

- Math! plz help! -
**MathMate**, Wednesday, April 21, 2010 at 11:21pm$10483.34 is the future value of the first two years of investment at the end of the second year.

$16322.67 is the future value of the 3rd, 4th and 5th years of investment at the end of the fifth year (end of term).

The only thing left to do is to calculate the future value of the first two years of investment at the end of term (5th year) at the rate of 9% pa, or 2.25% per quarter.

FV=10483.34*(1.0225)^(4 quarters * 3 years)

= 10483.34*(1.0225)^12

= $13691.76

So the total future value at end of term (5 years) is:

$13691.76+16322.67

=$30014.43

Check my work.

- Math! plz help! -
**Thara!**, Thursday, April 22, 2010 at 12:36amThank u soo much...u really helped me at the right time...i have final exam tomorrow...and i am now prepared..thanks again!!!

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