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Phil had made $1200 deposits in an annuity due at the beginning of each quarter in an account earning 6% interest compounded quarterly. What is the future value of the account in 2years? pay attention this is Annuity due not ordinary annuity


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10271.20



$5,835.12


$5,991.53


$5,902.99

Respuesta :

harpazo

Formula and set up:

A = P(1 + r/n)^(nt)

You want A.

A = 1200(1 + (0.06)/2)^(0.06)(2)

Plug right side into calculator to find A.

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