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    Calculate the value and that will be the amount of money accumulated

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    Can you give me the formula used to solve the following problem?

    What amount of money today is equivilant to $100 per month compounded quarterly for 10 years at 5%?

    © BrainMass Inc. brainmass.com February 24, 2021, 2:38 pm ad1c9bdddf
    https://brainmass.com/economics/finance/calculate-value-amount-money-accumulated-33317

    Solution Preview

    Rate of interest 5% per year
    r= rate of interest per period=5%/4=0.0125
    Time=10 ...

    Solution Summary

    What amount of money today is equivilant to $100 per month compounded quarterly for 10 years at 5%?

    $2.19

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