Homework Answers
To calculate the worth of that amount use the formula of Future Value (FV) in excel
Where:
Rate = 15.40%/4 = 3.85%
nper = 13*4
pmt = 0
pv = $325,000
So after 13 year the worth of his $325,000 would be $2,317,508.88
I hope this clear your doubt.
Feel free to comment if you still have any query or need something else. I'll help asap.
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