For the next 6 years, you plan to make equal quarterly deposits of $600.00 into an accountpaying 8% compounded quarterly. How much will be the total you have at the end of the time

Final Value = $18,253.12

Explanation:

Giving the following information:

For the next 6 years, you plan to make equal quarterly deposits of $600.00 into an account paying 8% compounded quarterly.

To calculate the final value, we need to use the following formula:

FV = {A*[ (1+i) ^n-1]}/i

A = quarterly deposit = 600

n = 6*4 = 24

i = 0.08/4 = 0.02

FV = {600*[ (1.02^24) - 1]} / 0.02 = $18,253.12