In: Finance
The value in six years of $15,000 invested today at a stated annual interest rate of 5.25% compounded quarterly is closet to:
16,220.69
20,511.81
48,376.60
20,101.43
Value of Investment = $ 15000 ; Interest Rate = 5.25% compounded quartely ; Years = 6 years
Future Value = Value *(1+interest Rate/4)^6*4 = 15000*(1+5.25/4)^6*4 = $ 20511.81
The answer is B