Find the future value of an ordinary annuity if payments are made in the amount r and interest is compounded as given. then determine how much of this value is from contribution and how much is from interest
r=11,000; 4.1% interest compounded quarterly for 13 years

Amount = 18693.617 unit , And Compound Interest= 7693.617

Step-by-step explanation:

Given in question as ,

Principal = 11,000

Rate of interest = 4.1%

compounded quarterly for 13 years

Now from compound interest (CI) formula,

Amount = A = <a href="https://www.codecogs.com/eqnedit.php?latex=A&space;=&space;P&space;(1&plus;\frac{r}{4&space;\times&space;100})^{T\times&space;4}" target="_blank"><img src="https://latex.codecogs.com/gif.latex?A&space;=&space;P&space;(1&plus;\frac{r}{4&space;\times&space;100})^{T\times&space;4}" title="A = P (1+\frac{r}{4 \times 100})^{T\times 4}" /></a>

For quarterly ,

A = P (1+\frac{r}{4 \times 100})^{T\times 4}

Or , A =11,000  (1+\frac{4.1}{4 \times 100})^{13\times 4}

Or,  A =11,000 × 1.6994

Or,  A =18693.617

Now compound interest= Amount - Principal

                                     CI = A - P

                                      CI = (18693.617) - (11,000)

                                  i.e CI = 7693.617

Hence Amount = 18693.617 unit , And Compound Interest= 7693.617   Answer

answer:     true

step-by-step explanation: