Find the future value of the annuity due.
-$\$ 200$ deposited at the beginning of each quarter for 13 years at $8 \%$ compounded quarterly
A) $\$ 4642.98$
B) $\$ 18,363.35$
C) $\$ 17,254.20$
D) $\$ 17,803.28$

Question

Quizplus · Accepted Answer

The future value of an annuity due is calculated using the formula: $ FV = P \times \frac{(1 + r)^n - 1}{r} \times (1 + r) $, where $ P = 200 $, $ r = \frac{0.08}{4} = 0.02 $, and $ n = 13 \times 4 = 52 $. Plugging in these values gives the future value as $\$ 18,363.35$.

Find the Future Value of the Annuity Due $200\$ 200$200 Deposited at the Beginning of Each Quarter for 13 Years

Find the Future Value of the Annuity Due $\$ 200$ Deposited at the Beginning of Each Quarter for 13 Years