Final answer:
To find the amount of an annuity of $2,000 every year for 15 days with an interest rate of 8% per annum compounded quarterly, we can use the formula for the future value of an annuity. Plugging in the given values, the amount of the annuity is approximately $31,807.33.
Step-by-step explanation:
To find the amount of an annuity of $2,000 every year for 15 days with an interest rate of 8% per annum compounded quarterly, we can use the formula for the future value of an annuity:
Future Value = P * ((1 + r/n)^(n*t) - 1) / (r/n)
Where P is the periodic payment, r is the interest rate, n is the number of compounding periods per year, and t is the number of years.
Plugging in the values, we get:
Future Value = 2000 * ((1 + 0.08/4)^(4*15/365) - 1) / (0.08/4)
Calculating the expression, we find that the amount of the annuity is approximately $31,807.33.