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Posted by **Amanda** on Monday, November 26, 2012 at 1:05pm.

(a) 6%/year, compounded quarterly

$ ?

(b) 3%/year, compounded quarterly

$ ?

- math -
**Reiny**, Monday, November 26, 2012 at 1:18pma) i = .06/4 = .015

n = 4(4) = 16

PV = 31000(1.015)^-16

= 24428.96

b) try it using the same steps as above

let me know what you get

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