Contemporary Engineering Economics 6th Edition by Chan Park

تمرين 8

What is the future worth of a series of equal end-of-month payments of $1,500 if the series extends over a period of eight years at 9% interest compounded at the given intervals
(a) Quarterly
(b) Monthly
(c) Continuously
For (a), assume that deposits made in mid-quarter earn interest for the fraction of the quarter during which they are on deposit.