httpimgurcomu5ucHDd Question is in the link Thanks SolutionF

http://imgur.com/u5ucHDd

Question is in the link. Thanks :)

Solution

For an annuity due,

FV = A [(1+i)^n - 1] / d

where

i = 0.0888/4 = 0.0222
d = i/(1+i) = 0.021717863

Thus, as n = 12*4 = 48 payments,

FV = A [(1+i)^n - 1] / d

= 600*((1+0.0222)^48 - 1)/0.021717863

= 51633.36862 [ANSWER]