ANYONE GOOD AN ANNUITIES?
1 answer:
Given:
quarterly deposits of 2,000
8 percent compounded quarterly ⇒ 2% per quarter
4 quarters in 15 years = 60 quarters
Future Value = (1 + r) x P [{(1+r)^n - 1} / r]
FV = (1 + 0.02) x 2,000 [{(1 + 0.02)⁶⁰ - 1} / 0.02]
FV = 232, 665.14 Choice B.
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The answer is 1, I really hope this helped :)
