Will Ferrell is going to deposit 8,000 into an account at the start of every 3 months for the next five years. The account will earn 20 percent interest compounded quarterly.
Calculate the amount of interest Will will earn over the 5 year period.
Use the table's provided for this question.
Future Value of a Lump-Sum Periods 12% 3 1.0151 4 1.0202 5 1.0253 6 1.0304 7 1.0355 8 1.0407 9 1.0459 10 1.0511 12 1.0617 15 1.0777 16 1.0831 17 1.0885 18 1.0939 19 1.0994 20 1.1049 21 1.1104 22 1.1160 23 1.1216 24 1.1272 25 1.1328 60 1.3489 3% 1.0927 1.1255 1.1593 1.1941 1.2299 1.2668 1.3048 1.3439 1.4257 1.5580 1.6047 1.6529 1.7024 1.7535 1.8061 1.8603 1.9161 1.9736 2.0325 2.0938 5.8916 Rate of interest per period in percent 5% 6% 8% 9% 10% 12% 15% 20% 1.1576 1.1910 1.2597 1.2950 1.3310 1.4049 1.5209 1.7280 1.2155 1.2625 1.3605 1.4116 1.4641 1.5735 1.7490 2.0736 1.2783 1.3382 1.4693 1.5386 1.6105 1.7623 2.0114 2.4883 1.3401 1.4185 1.5869 1.6771 1.7716 1.9738 2.3131 2.9860 1.4071 1.5036 1.7138 1.8280 1.9487 2.2107 2.6600 3.5832 1.4775 1.5939 1.8510 1.9926 2.1436 2.4760 3.0590 4.2998 1.5513 1.6895 1.9990 2.1719 2.3579 2.7731 3.5179 5.1598 1.6289 1.7909 2.1589 2.3674 2.5938 3.1059 4.0456 6.1917 1.7959 2.0122 2.5182 2.8127 3.1384 3.8960 5.3503 8.9161 2.0789 2.3966 3.1722 3.6425 4.1773 5.4736 8.1371 15.4070 2.1829 2.5404 3.4259 3.9703 4.5950 6.1304 9.3576 18.4884 2.2920 2.6928 3.7000 4.3276 5.0545 6.8660 10.7613 22.1861 2.4066 2.8543 3.9960 4.7171 5.5599 7.6900 12.3755 26.6233 2.5270 3.0256 4.3157 5.1417 6.1159 8.6128 14.2318 31.9480 2.6533 3.2071 4.6610 5.6044 6.7275 9.6463 16.3665 38.3376 2.7860 3.3996 5.0338 6.1088 7.4002 10.8038 18.8215 46.0051 2.9253 3.6035 5.4365 6.6586 8.1403 12.1003 21.6447 55.2061 3.0715 3.8197 5.8715 7.2579 8.9543 13.5523 24.8915 66.2474 3.2251 4.0489 6.3412 7.9111 9.8497 15.1786 28.6252 79.4969 3.3864 4.2919 6.8485 8.6231 10.8347 17.0001 32.9190 95.3962 18.6792 32.9877 101.257 176.031 304.482 897.597 4383.99 56347.5 5% 8% 10% Periods 1% 3 0.9852 4 0.9803 5 0.9754 6 0.9705 7 0.9657 8 0.9609 9 0.9561 10 0.9514 12 0.9419 15 0.9279 16 0.9233 17 0.9187 18 0.9141 19 0.9096 20 0.9051 21 0.9006 22 0.8961 23 0.8917 24 0.8872 25 0.8828 60 0.7414 3% 0.9151 0.8885 0.8626 0.8375 0.8131 0.7894 0.7664 0.7441 0.7014 0.6419 0.6232 0.6050 0.5874 0.5703 0.5537 0.5375 0.5219 0.5067 0.4920 0.4776 0.1697 0.8638 0.8227 0.7835 0.7462 0.7107 0.6768 0.6446 0.6139 0.5568 0.4810 0.4581 0.4363 0.4155 0.3957 0.3769 0.3589 0.3418 0.3256 0.3101 0.2953 0.0535 Present Value of a Lump-Sum Rate of interest per period in percent 9% 0.8396 0.7938 0.7722 0.7513 0.7920 0.7350 0.7084 0.6830 0.7473 0.6806 0.6499 0.6209 0.7050 0.6311 0.5963 0.5645 0.6651 0.5835 0.5470 0.5132 0.6274 0.5403 0.5019 0.4665 0.5919 0.5003 0.4604 0.4241 0.5584 0.4632 0.4224 0.3855 0.4970 0.3971 0.3555 0.3186 0.4173 0.3152 0.2745 0.2394 0.3937 0.2919 0.2519 0.2176 0.3714 0.2703 0.2311 0.1978 0.3503 0.2503 0.2120 0.1799 0.3305 0.2317 0.1945 0.1635 0.3118 0.2146 0.1784 0.1486 0.2942 0.1987 0.1637 0.1351 0.2775 0.1839 0.1502 0.1228 0.2618 0.1703 0.1378 0.1117 0.2470 0.1577 0.1264 0.1015 0.2330 0.1460 0.1160 0.0923 0.0303 0.0099 0.0057 0.0033 12% 0.7118 0.6355 0.5674 0.5066 0.4523 0.4039 0.3606 0.3220 0.2567 0.1827 0.1631 0.1456 0.1300 0.1161 0.1037 0.0926 0.0826 0.0738 0.0659 0.0588 0.0011 15% 0.6575 0.5718 0.4972 0.4323 0.3759 0.3269 0.2843 0.2472 0.1869 0.1229 0.1069 0.0929 0.0808 0.0703 0.0611 0.0531 0.0462 0.0402 0.0349 0.0304 0.0002 20% 0.5787 0.4823 0.4019 0.3349 0.2791 0.2326 0.1938 0.1615 0.1122 0.0649 0.0541 0.0451 0.0376 0.0313 0.0261 0.0217 0.0181 0.0151 0.0126 0.0105 0.0001 15% Future Value of an Annuity Rate of interest per period in percent Periods 12% 3% 5% 6% 8% 9% 10% 12% 20% 3 3.0150 3.0909 3.1525 3.1836 3.2464 3.2781 3.3100 3.3744 3.4725 3.6400 4 4.0301 4.1836 4.3101 4.3746 4.5061 4.5731 4.6410 4.7793 4.9934 5.3680 5 5.0503 5.3091 5.5256 5.6371 5.8667 5.9847 6.1051 6.3529 6.7424 7.4416 6 6.0755 6.4684 6.8019 6.9753 7.3359 7.5233 7.7156 8.1152 8.7538 9.9299 7 7.1059 7.6625 8.1420 8.3938 8.9228 9.2004 9.4872 10.0890 11.0668 12.9159 8 8.1414 8.8923 9.5491 9.8975 10.6366 11.0285 11.4359 12.2997 13.7268 16.4991 9 9.1821 10.1591 11.0266 11.4913 12.4876 13.0210 13.5795 14.7757 16.7858 20.7989 10 | 10.2280 11.4639 12.5800 13.1808 14.4866 15.1929 15.9374 17.5487 20.3037 25.9587 12 12.3356 14.1920 15.9170 16.8700 18.9771 20.1407 21.3843 24.1331 29.0017 39.5805 15 | 15.5366 18.5990 21.5786 23.2760 27.1521 29.360931.7725 37.2797 47.5804 72.0351 16 16.6142 20.1569 23.6575 25.6725 30.3243 33.0034 35.9497 42.7533 55.7175 87.4421 17 | 17.6973 21.7616 25.8404 28.2189 33.7502 36.9737 40.5447 48.8837 65.0751 105.931 18 18.7858 23.4144 28.1500 30.9057 37.4502 41.3013 45.5992 55.7497 75.8364 128.117 19 19.8797 25.1169 30.5390 33.7599 41.4463 46.0185 51.1591 63.4397 88.2118 154.740 20 20.9791 26.8704 33.0650 36.7856 45.7620 51.1601 57.2750 72.0524 102.444 186.688 21 22.0840 28.6765 35.7193 39.9927 50.4229 56.7645 64.0025 81.6987 118.810 225.026 22 23.1944 30.5368 38.5052 43.3923 55.4568 62.8733 71.4027 92.5026 137.632 271.031 23 24.3104 32.4529 41.4305 46.9958 60.8933 69.5319 79.5430 104.603 159.276 326.237 24 25.4320 34.4265 44.5020 50.8156 66.7648 76.7898 88.4973 118.155 184.168 392.484 25 26.5591 36.4593 47.7271 54.8645 73.1059 84.700998.3471 133.334 212.793 471.981 60 69.7700 163.053 353.584 533.128 1253.21 1944.79 3034.82 7471.64 29219.9 281732 Present Value of an Annuity Rate of interest per period in percent Periods 12% 3% 5% 6% 8% 9% 10% 3 2.9703 2.8286 2.7233 2.6730 2.5771 2.5313 2.4869 4 3.9505 3.7171 3.5460 3.4650 3.3121 3.2397 3.1699 5 4.9259 4.5797 4.3295 4.2125 3.9927 3.8897 3.7908 6 5.8964 5.4172 5.0757 4.9173 4.6229 4.4859 4.3553 7 6.8621 6.2303 5.7864 5.5824 5.2064 5.0330 4.8684 8 7.8230 7.0197 6.4632 6.2098 5.7466 5.5348 5.3349 9 8.7791 7.7861 7.1078 6.8017 6.2469 5.9953 5.7590 10 9.7304 8.5302 7.7217 7.3601 6.7101 6.4177 6.1450 12 | 11.6189 9.9540 8.8633 8.3838 7.5361 7.1607 6.8137 15 14.4166 11.9379 10.3797 9.7123 8.5595 8.0607 7.6061 16 15.3399 12.5611 10.8378 10.10598.8514 8.3126 7.8237 17 16.2586 13.1661 11.2741 10.4773 9.1216 8.5436 8.0215 18 17.1728 13.7535 11.6896 10.8276 9.3719 8.7556 8.2014 19 18.0824 14.3238 12.0853 11.1581 9.6036 8.9501 8.3649 20 18.9874 14.8775 12.4600 11.4699 9.8182 9.1286 8.5200 21 19.8880 15.4150 12.8212 11.7641 10.0168 9.2922 8.6487 22 20.7841 15.9369 13.1630 12.0416 10.2007 9.4424 8.7715 2321.6757 16.4436 13.4886 12.3034 10.3711 9.5802 8.8832 24 22.5629 16.9355 13.7986 12.5504 10.5288 9.7066 8.9847 25 23.4456 17.4132 14.0939 12.7834 10.6748 9.8226 9.0770 60 51.7255 27.6756 18.9293 16.1614 12.3766 11.0480 9.9672 12% 2.4018 3.0374 3.6048 4.1114 4.5638 4.9676 5.3283 5.6502 6.1944 6.8109 6.9740 7.1196 7.2497 7.3658 7.4694 7.5620 7.6446 7.7184 7.7843 7.8431 8.3241 15% 2.2832 2.8550 3.3522 3.7845 4.1604 4.4873 4.7716 5.0188 5.4206 5.8474 5.9542 6.0472 6.1280 6.1982 6.2593 6.3125 6.3587 6.3988 6.4338 6.4641 6.6652 20% 2.1065 2.5887 2.9906 3.3255 3.6046 3.8372 4.0310 4.1930 4.4392 4.6755 4.7296 4.7746 4.8122 4.8435 4.8696 4.8913 4.9094 4.9245 4.9371 4.9476 4.9999
