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How much would you receive at the end of 3 years if you invest $10,000 today, assuming you can earn a return of 10% p
How much would you receive at the end of 3 years if you invest $10,000 today, assuming you can earn a return of 10% p.a. compounding quarterly?
Expert Solution
Future value will be calculated as follows-
= Principal (1+(interest / number of payment during the year)^total number of payment
= 10000(1+(.10/4)^12
= 10000(1.025)^12
= $ 13448.488.
Hence, the total amount which will be received is $ 13,448.49.
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