I’m trying to calculate the present value of an investment scheme I was suggested with.
The scheme is, I have to invest say $100 in every quarter perpetually. Now I know how to calculate it (the present value of the investment) if the interest was also calculated quarterly.
But according to my adviser the interest is calculated monthly at a 5% p.a.
Tried to calculate but couldn’t. Any advise from the financial experts on calculating something like this? A formula would be very helpful.
Thanks in advance!