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.
Im sorry wish i could help but the equation is a little confusing give me a few moments and i will figure out the answer okay?
Factors of 48 : 1,2,3,4,6,8,12,16,24,48....all of these numbers can be subbed in for X to arrive at a whole number....so there are 10 different ways
The answer is B
Not sure but sorry if wrong, I can explain how I got it if you want
