ALMODIELNOVIE818GO
Answered


2. Quarterly payment of P5,000 for 10 years with interest rate of 2%
compounded quarterly
Find the future value of the following ordinary annuities​

Sagot :

A = $ 6,103.97

A = P + I where

P (principal) = $ 5,000.00

I (interest) = $ 1,103.97

Step-by-step explanation:

First, convert R percent to r a decimal

r = R/100

r = 2%/100

r = 0.02 per year,

Then, solve our equation for A

A = P(1 + r/n)nt

A = 5,000.00(1 + 0.005/4)(4)(10)

A = $ 6,103.97

Go Educations: Other Questions