Answer to Question #325814 in Financial Math for Azlan

Question

Assume that 4 years from now you will need $1,000. Your bank compounds interest at an 8% annual rate.

1)what would your balance four year from now be if the bank quarterly compound rather than semi annual and annual compound

2) suppose u depoist the $1000 in four payments $250 each at the year . How much would you have in account in 4 year based on 8% annual compounding