You make a series of quarterly deposits every quarter starting at the end Quarter 1 and ending at the end of Quarter 36. The first deposit is $1,100, and each deposit increases by $500 each Quarter (Q2 = $1,600; Q3 =$2,100…). The nominal annual interest rate is 8%, and is compounded daily. 

What is the Future Value of these deposits at the end of Quarter 36? Assume there are 30.4167 days per month.

Answer rating: 100% (QA)

To calculate the future value of these deposits at the end of Quarter 36 we can use the formula for ... View the full answer