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The future value of an annuity of $1,000 each quarter for 10

Resolved Question:

The future value of an annuity of $1,000 each quarter for 10 years, deposited at 12 percent compounded quarterly is?
Submitted: 5 years ago.
Category: Finance
Expert:  JKCPA replied 5 years ago.
Hello Customer,

Thanks for your question.

From Excel, use formula =FV(.12/4,40,-1000) or use the future value of an ordinary annuity table with n=40, i = 12%/4= 3%, =75.40126 x $1000 = $75,401.26

Hope this helps!

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