February 27, 2017

Homework Help: Math! plz help!

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

Calculate the future value of quarterly payments of $1200 for 5 years, if the rate of interest was 10% compounded quarterly for the first 2 years and will be 9% compounded quarterly for the last 3 years.

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 don't know what i should do now?

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