Question

​$750 are deposited into an account quarterly for six years at an interest rate of 6.8​% compounded quarterly. How much is in the account at the end of the 6 ​years? 

I need the equation I would use for this problem.

Answer 1

`\bf \qquad \qquad \textit{Future Value of an ordinary annuity} \\\\\\ A=pymnt\left[ \cfrac{\left( 1+(r)/(n) \right)^(nt)-1}{(r)/(n)} \right] \\\\\\ \qquad \begin{cases} A= \begin{array}{llll} \textit{compounded amount}\\ \end{array}\to & \begin{array}{llll} \end{array}\\ pymnt=\textit{periodic payments}\to &750\\ r=rate\to 6.8\%\to (6.8)/(100)\to &0.068\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{quarterly, meaning 4} \end{array}\to &4\\ t=years\to &6 \end{cases}`