Question: The future value of $1,000 compounded annually for 8 years at 12% may be calculated with the following formula: FV = $1,000 (1 +

The future value of $1,000 compounded annually for 8 years at 12%

The future value of $1,000 compounded annually for 8 years at 12% may be calculated with the following formula: FV = $1,000 (1 + 12%) If the same $1,000 was compounded quarterly, what formula would you use to calculate the FV?

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