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

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

User Quexer
by
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1 Answer

2 votes
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
User Patrickkx
by
8.4k points
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