lanayamoreno lanayamoreno

08-06-2017
Business

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Calculate the FV of $1000 due in 3 years at 6% compounded quarterly

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Aliwohaish12 Aliwohaish12

09-06-2017

Hi there
The formula is
Fv=pv (1+r/k)^kn
Fv future value?
Pv present value 1000
R interest rate 0.06
K compounded quarterly 4
N time 3 years
So
FV=1,000×(1+0.06÷4)^(4×3)
Fv=1,195.62

Hope it helps

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good job