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What Is the Future Value of Payments of $230

question 52

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What is the future value of payments of $230.00 made at the end of every three months in twenty-one years if interest is 7.65% compounded annually?


Definitions:

Funds

Financial resources set aside for a specific purpose or project.

Angel Investor

A type of investor who uses his or her own money to provide funds to young startup private businesses run by entrepreneurs who are neither friends nor family.

Private Businesses

Enterprises owned by individuals or groups without governmental shares and not traded on the public stock markets, characterized by privately held ownership structures.

Entrepreneurs

Individuals who organize and operate businesses, taking on greater than normal financial risks.

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