# 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%?

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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%?

$2.49