Your 6 1/4 year investment of $40,000 at 14% compounded quarterly is worth how much now?

The formula to be used here is:

F = P (1+i) ⁿ

where

P = 40000

n = 6 1/4 years

Let's find i first which has to be converted to compounded annually.

i = (1 + r/m) ^m - 1

where m = 4 because there are 4 quarters in 1 yr; and r is the given 0.14.

i = (1 + 0.14/4) ⁴ - 1 = 0.1475

Thus,

F = (40000) (1+0.1475) ^ (6 1/4)

F = $94,517.96