$5000 @ 2.5% compounded quarterly....what is the total value of the loan in 10 years?

2 ⤊

2007-03-20 09:15:33 · 2 answers · asked by soccerma13 1 in Business & Finance ➔ Personal Finance

5000*[1+(2.5%/4)]^(10*4)
=5000 * (1.00625)^40
=6,415.13

2007-03-20 09:33:16 · answer #1 · answered by BosCFA 5 · 1⤊ 0⤋

The formula in Excel

=FV(2.5%/4,10*4,0,5000,1)

Answer:

$6,415.13

2007-03-20 09:34:24 · answer #2 · answered by R Worth 4 · 1⤊ 0⤋

doesn't matter anyway, uncle sam will find some way to take all of it before you can get it out of the bank

2007-03-20 09:24:40 · answer #3 · answered by waddelljeff 1 · 0⤊ 2⤋