Valerie has made investments of $10,000 at the end of every three months for the last 8 years. She has earned 11% compounded quarterly? What is the value of the investments today?
A) $97,427
B) $211,003
C) $320,000
D) $460.792
E) $502,699

Question

Quizplus · Accepted Answer

The future value of an annuity formula is used here: FV = Pmt * [((1 + r)^nt - 1) / r], where Pmt = $10,000, r = 0.11/4, n = 4, and t = 8. Plugging in these values gives the future value of the investments as approximately $502,699.

Valerie Has Made Investments of $10,000 at the End of Every