Mathematics, 29.06.2019 01:30, cathyfrawley
Find the future value of an annuity due of $400 each quarter for 4 1 2 years at 13%, compounded quarterly. (round your answer to the nearest cent.)
Answers: 1
![FV=P[\frac{(1+r)^{n}-1}{r}]*(1+r)](/tpl/images/0029/2431/fffcf.png)
percent per period(quarter))n is the number of periods (here the annuity is for 
years, which is 
periods, since quarterly and there are 4 quarters in 1 year)![FV=400[\frac{(1+0.0325)^{18}-1}{0.0325}]*(1+0.0325)\\=400[23.9497]*(1.0325)\\=9891.23](/tpl/images/0029/2431/9f3ea.png)
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Find the future value of an annuity due of $400 each quarter for 4 1 2 years at 13%, compounded quar...
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