What is the future value FV after 4 years of the following i

What is the future value (FV) after 4 years of the following investments:

Payment $150 per quarter starting quarter 1. Interest Rate is 8 % per year compounded semiannually.

Here Present Value(PV) is $150 per quarter

Therefore for one year PV will be $150*4=$600

Future Value (FV)=PV (1+r)ⁿ?

where r = rate of interest

n = years compounded i.e, annually or semi annually or quarterly etc.

PV=$600 , r = 8/100 = 0.08 , n = 8

So, FV=600(1+0.08)⁸

= 600(1.08)⁸

=600(1.851)

FV= $1110.6

can be rounded of and FV = $1111

the future value after 4 years is $1111.00