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Florence deposits $6,000 in an ordinary annuity at the end of each quarter in an account earning 6 percent interest compounded quarterly. what is the future value of the account in 2 years?
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Florence deposits $6,000 in an ordinary annuity at the end of each quarter in an account earning 6 percent interest compounded quarterly. what is the future value of the account in 2 years?

User Milani
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1 Answer

2 votes

Answer:

$6021.60

6000+(6000×0.6^2)=

=6000+21.6=6021.6

User Harri Virtanen
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