Explore BrainMass

Amount in three years from now

You just deposited $2,500 in a bank account that pays a 12% nominal interest rate, compounded quarterly.

If you also add another $5,000 to the account on year (12 months) from now and another $7,500 to the account two years from now, how much will be in the account three years (12 quarters) from now?

Please also show:
PV =
FV =
i =
n =

Solution Summary

The solution explains how to calculate the balance in the account in three years from now