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What is the present value of $1,150 deposited at the end of each quarter year for 12 years earning 6.5% interest?

Question

What is the present value of $1,150 deposited at the end of each quarter year for 12 years earning 6.5% interest?

check_circleAnswer
Step 1

Calculation of Present Value:

The present value is $38,124.16.

Excel Spreadsheet:

...
В
1 Periodic Payments
$1,150
2 Interest Rate
1.63%
3 Number of Periods
4 Present Value S38,124.16
48
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В 1 Periodic Payments $1,150 2 Interest Rate 1.63% 3 Number of Periods 4 Present Value S38,124.16 48

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