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Find the maturity value. Principal=1400 Rate=16% Compounded quarterly Time=6 years.?

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I am looking for the compounded quarterly.

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  1. (1.04*1400)*24  i.e. ( quarterly rate factor *principal)*no. of quarters.

    The first quarters interest would be £56 rising 4% per quarter thereafter.

    This assumes no withdrawals during the six years.


  2. 3589
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