jocekinn
contestada

Amount of Each Deposit: $295

Deposited: Quarterly

Rate per Year: 10%

Number of Years: 6

Type of Annuity: Due

Respuesta :

Aliwohaish12
Use the formula of the future value of annuity due
Fv=pmt [(1-r/k)^(kn)-1)÷(r/k)]×(1+r/k)
Fv=295×((((1+0.10÷4)^(4×6)−1)
÷(0.10÷4))×(1+0.10÷4))=9,781.54

if you want the present value
Pv=295×(((1−(1+0.10÷4)^(−4
×6))÷(0.10÷4))×(1+0.10÷4))
=5,407.97

Hope it helps

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