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August 22, 2014

August 22, 2014

Posted by **Kate** on Tuesday, July 12, 2011 at 5:48pm.

$1500 at the end of each 3-month period, for 5 years, at 4.5% p/a, compounded quarterly

- Math -
**MathMate**, Wednesday, July 13, 2011 at 6:05amUse the standard formula:

P=R(1-(1+i)^(-n))/i

where

P=present value

R=payment per period ($1500/three months)

i=interest per period = 0.045/4=0.01125

n=number of periods = 4*5=20

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