yee
alrighty, da equation is
[tex]A=P(1+\frac{r}{n})^{tn}[/tex]
where
A=future amount
P=present amount or principal
r=rate in decimal
n=number of times per year it is compounded
t=time in years
given
principal=40000=P
r=14%=0.14
n=4 (quarterly is 4 times a year)
t=6 and 1/4 or 6.25
so
[tex]A=40000(1+\frac{0.14}{4})^{(6.25)(4)}[/tex]
[tex]A=40000(1+0.035)^{25}[/tex]
[tex]A=40000(1.035)^{25}[/tex]
use your calculator
A=94529.79937
round to nearest cent
A=$94529.80
it is worth $94529.80 in 6 and 1/4 years
