An investor makes three deposits into a fund, at the end of 1, 3, and 5 years. The amount of the deposit at time t is 100(1.025)t . Find the size of the fund at the end of 7 years, if the nominal rate of discount convertible quarterly is 4 41 .

The size of the fund at the end of 7 years is $483.110

Explanation:

Number of quarters = 4

We are given that the nominal rate of discount convertible quarterly is 4/41

Discount rate in each quarter =

Let A is the value after discount and X is the original value:

Now To calculate the value after 7 years we need to multiply each value by the interest raised to the correct power.

A=483.110

Hence  the size of the fund at the end of 7 years is $483.110

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