How much will $1 million deposited in an investment account earning a compound quarterly rate of 6% be worth at the end of ten years?
Ans $ 1,814,018.41
FV = | Future Value |
PV = | Present Value |
r = | rate of interest |
n= | no of period |
FV = | PV (1 + r )^n |
FV = | 1000000*(1+6%/4)^40 |
FV = | 1814018.41 |
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