Accounting
posted by Susie .
I was just wondering if I was doing this right. In my accounting class we are studying furture value. I was wondering if I was doing this one right...
if I was to figure out $5000 that was compounded quartery at 6% for five years, how much would that be.
I did this... 5000(1.06/4)^5*4=6,734.23
Am I right? I 19 more questions to do that are like this one. If I am wrong, then please help me.

Yes that is correct.