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What is the future value of series of $15,600 quarterly payments received at the end of each quarter for the next 7 years if it
- What is the future value of series of $15,600 quarterly payments received at the end of each quarter for the next 7 years if it is invested at an annual rate of return of 7.5% compounded quarterly?
Annuity= 15600
I= 1.875% (7.5% / 4)
n= 28 ( 7*4)
FV= 15600 x [((1+1.875%) ^28 - 1) / 1.875%
= $567,641.26
- Repeat above question for annuity due? (payments received at the beginning of each quarter). ***I need this part answered****
Thank you
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