Find the future value of 575 at 5.5% compounded quarterly for 5 years. Round to the nearest cent

Future value = $755.61 ( to the nearest cent)

Step-by-step explanation:

The formula for calculating the future value of an invested amount compounded periodically for a number of years is given as:

where:

FV = future value = ???

PV = present value = $575

r = interest rate in decimal = 5.5% = 0.055

n = number of compounding periods per year = quarterly = 4

t = time of investment = 5 years

∴

∴ Future value = $755.61 ( to the nearest cent)

why can't you?

step-by-step explanation:

answer: i'm great at algebra

~coco

step-by-step explanation: