What are the future and present value of an annuity of $100 payable at the beginning of each quarter for 15 years if the interest rate is 12% compounded quarterly?
2026-04-02 18:44:36.1775155476
The future and present value of an annuity of $100 payable at the start of each quarter for 15 yrs if the rate is 12% compounded quarterly is?
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Hints:
The future value is
$FV=100\cdot q \cdot \frac{q^{60}-1}{q-1}$ with $q=1+\frac{0.12}{4}=1+0.03$
The present value is $PV=\frac{FV}{q^{60}}$