Friday

October 24, 2014

October 24, 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!!!

**Answer this Question**

**Related Questions**

math help plz! - Calculate teh future value of quarterly payments of $1200 for 5...

compounded interest - calculate the future value of an investment of $8,500 if ...

Math - Serena wants to borrow $15 000 and pay it back in 10 years. Interest ...

finite math - Find the present value of an ordinary annuity of $600 payments ...

math,correction - can someone correct these for me thanks.. Problem #4 Find the ...

algebra - Find the future value of an ordinary annuity. Payments are made and ...

Math - Serena wanst to borrow $15 000 an pay it back in 10 years. Interest rates...

Business Mathematics - Jungle Jim owes three debts: $500 due in one year plus ...

Finance - Joseph has just retired and is trying to decide between two retirement...

finances - Calculate the future value of the following: o $5,000 compounded ...