Question

Si se invierten $ 500 a una tasa de 5% anual. Hallar el valor futuro a 3 años si el interés es compuesto trimestralmente.

Answer 1

Answer:

the future value is $5800.38

Step-by-step explanation:

Given that

The invested amount i.e present value is $500

The rate is 5 % per year so quarterly rate is 5% ÷ 4 = 1.25%

The time period is 3 per year so for quartely it is 3 × 4 = 12

We need to find out the future value

So as we know that

Future value = Present value × (1 + rate of interest)^time

= $500 × (1 + 0.0125)^12

= $580.38

hence, the future value is $5800.38