Find the value of an investment of $12,500 at 6.2% compunded quarterly for 8 years.?

if you have a 10BII HP calculator its easy. The answer is
20,448.79

Wouldn't this just be 12,500 x 1.062^32

8x4 for amount of quarters?

ok so you use the equation y=ab^x
then it starts with a=12500
and since it's quarterly you have to divide the 6.2 by 4 otherwise your saying then 6.2 every quarter.
so your interest rate is 1.55 that is b
then put 8x4=32
y=12500(1.55)^32 thats your answer

First, find your quarterly interest rate, "r". r(qtr)=r(annual)/4

r(qtr)=.062/4=.0155

Also, the number of time periods is 32, because there are 32 quarters in 8 years.

The formula for the Future Value of a given Present Value of money is FV=PV(1+r)^t

FV=$12500(1+.0155)^32
FV=$20448.79

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