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

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%?

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#### 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