Find the future value accumulated in an annuity after invest

Find the future value accumulated in an annuity after investing periodic payments of $350 for 8 years at an annual interest rate of 8%, with payments made and credited 4 times per year.

Solution

Use the excel formula for future value

FV(0.08/4,4*8,-350,0,0)

= $15479.46

So, Future value after 8 years will be $15479.46