What is the accumulated value of deposits of $1600.00 made at the end of every six months for five years if interest is 8.2% compounded quarterly?
Please use the following formula:
PMT = 1600; I/.2; P/; I = 8.2%/4 = 0.0205;
N = 5(2) = 10;
FVn = PMT(1+i)n - 1 / I]