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28 August, 13:56

Dirk entered the following expression into a graphing calculator 13600 * (1+.02/4) ^ (4*12) which of these future values could he have been calculating

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  1. 28 August, 14:15
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    We are given the expression:

    13600 * (1+.02/4) ^ (4*12)

    This is the form of the expression in determining the future worth of money. Drik could have been calculating the total amount of money he needed to pay after getting a loan with the following conditions

    $13600 loan amount

    2% interest compounded quarterly

    4 years loan term
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