You plan to put $1,000 in a saving plan per QUARTER (beginning of quarter) for 5 years. Compute the future value (FV) of the plan with each of the following conditions.

1) Receive 10% stated annual interest rate, interest is compounded annually.

2) Receive 10% stated annual interest rate, interest is compounded quarterly.

3) Receive 10% stated annual interest rate, interest is compounded monthly.

4) Receive 10% stated annual interest rate, interest is compounded continuously.

Answer rating: 100% (QA)

FV P1 rnnt Where P the principal amount initial investment r the annu... View the full answer