Assume that you invest $750 at the end of each quarter for the next 20 years in a mutual fund.The annual rate of interest that you expect to earn in this account is 5.25%.The amount in the account at the end of 20 years is
A) $60,000.00
B) $105,039.84
C) $37,009.35
D) $123,510.52
E) $115,637.37

Question

Quizplus · Accepted Answer

$$F V = 750 \left( \frac { ( 1 + .013125 ) ^ { 80 } - 1 } { .013125 } \right) = \$ 105,039.84$$

Assume That You Invest $750 at the End of Each