Question

Find the future value of an ordinary annuity with regular payment of P1,000 at 5%at compounded quarterly for 3 years

Answer 1

Answer:

1,157.625 rs is the value of an ordinary annuity with regular payment of P1,000 at 5%at compounded quarterly for 3 years

Step-by-step explanation:

It is given that,

P=1000

r=5%

t=3 years

We know that,

P(1-(1+r)∧n -1)/3=

P(1-(1+0.05)∧3 -1)/0.05

=1,157.625

1,157.625 rs is the value of an ordinary annuity with regular payment of P1,000 at 5%at compounded quarterly for 3 years