15. Determine the future value of $4,000 deposited into an ordinaryannuity after each quarter for 3 years at 6% interest compoundedquarterly. (Lesson 5.8)

Answer:The future value of investment at 6 % compounded quarterly is                $ 4782.472  Step-by-step explanation:Given as :The principal amount = $ 4000The rate of interest compounded quarterly = 6 %The time period = 3 yearsLet The future amount = AFrom Compounded method Amount = Principal × [tex](1+\dfrac{\textrm rate}{4\times 100})^{4\times \textrm time}[/tex]Or, Amount = 4000 × [tex](1+\dfrac{\textrm 6}{4\times 100})^{4\times \textrm 3}[/tex]Or, Amount = 4000 × [tex](1.015)^{12}[/tex]Or, Amount = 4000 × 1.195618∴ Amount = $ 4782.472Hence The future value of investment at 6 % compounded quarterly is  $ 4782.472  Answer