Question

Find the amount of an annuity with payments of $500 deposited quarterly at 8% for 5 years

Answer 1

well, 8/4 = 2% per period

4*5 = 20 periods

Answer 2

\[A=500\frac{1-(1.02)^{20}}{1-1.02}\]
that should do it since i got no tables handy

Answer 3

yes thank you!