+20 What is the future value if $2600 is invested for 7 years at 8% compounded quarterly?
Somebody seems to have alot of financial problems today!!.
FV=PV[1 + R]^N
FV=2,600[1 + 0.08/4]^(7*4)
FV =$4,526.66
+37084 Here we go....
8 % QUARTERLY is 2% quarterly (3months)
FV = PV(1+i)^n n= periods (periods are 3 months.....for 7 years = 28 periods)
FV=2600 (1.02)^28 = 4526.66
