Find the future value, using the future value formula and a calculator. (Round your answer to the nearest cent.)

$990 at 5.5% compounded quarterly for 3 years

Find the present value, using the present value formula and a calculator. (Round your answer to the nearest cent.)
Achieve $225,500 at 8.55% compounded continuously for 8 years, 155 days.

thank you

just solve for p in

p(1+.055/4)^(4*3) = 990

8y 155d = 8.43 years, so

p*e^(.0855*8.43) = 225500

To find the future value using the future value formula and a calculator, we can use the following formula:

FV = PV * (1 + r/n)^(n*t)

Where:
- FV is the future value
- PV is the present value
- r is the annual interest rate (expressed as a decimal)
- n is the number of compounding periods per year
- t is the number of years

For the first question, we have:
- PV = $990
- r = 5.5% = 0.055 (as a decimal)
- n = 4 (quarterly compounding)
- t = 3 years

Plugging these values into the formula, we get:

FV = $990 * (1 + 0.055/4)^(4*3)

Using a calculator, evaluate the expression to get the future value. Round your answer to the nearest cent.

For the second question, to find the present value using the present value formula and a calculator, we can use the following formula:

PV = FV / e^(r*t)

Where:
- PV is the present value
- FV is the future value
- r is the annual interest rate (expressed as a decimal)
- t is the time in years

For the second question, we have:
- FV = $225,500
- r = 8.55% = 0.0855 (as a decimal)
- t = 8.47 years (8 years, 155 days converted to years)

Plugging these values into the formula, we get:

PV = $225,500 / e^(0.0855*8.47)

Using a calculator, evaluate the expression to get the present value. Round your answer to the nearest cent.