Remember that
The formula for the future value of an ordinary annuity is equal to:
[tex]FV=P\lbrack\frac{(1+ \frac{r}{n} )^{nt} -1}{ \frac{r}{n} }\rbrack[/tex]In this problem we have
P=$121
r=4.2%=0.042
n=4
t=14 years
substitute in the formula
[tex]FV=121\lbrack\frac{(1+\frac{0.042}{4})^{4\cdot14}-1}{\frac{0.042}{4}}\rbrack[/tex]therefore
