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Answer to Question #171440 in Financial Math for King

Question #171440

Future value of ordinary annuity


what is the future value of an annuity if the size of each payment is 2,500 payable at the end of each quarter for five years at an interest rate of 16% compounded quarterly?


1
Expert's answer
2021-03-31T13:53:40-0400

"FVa = \\frac{2,500\u00d7((1 + 0.16\/4)^{20} - 1)} {0.16\/4} = 74,445.2."


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