Bill invests $150 at the end of each quarter at 6% compounded quarterly. What does this amount to in 10 years?
Bill invests $150 at the end of each quarter at 6% compounded quarterly. What does this amount to in 10 years?
Bill should have accumulated $8,140.18 at the end of 10 ten years.
Here is the formula used to calculate this, if you wish to verify it:
FV=P[1 + R]^N - 1/ R=FV OF $1 PER PERIOD, Where R=interest rate per period, P=periodic payment, N=number of periods in the investment.
