c. What is the future value of $4,000 in a bank account for 6years at 6...
c. What is the future value of
$4,000 in a bank account for 6years at 6 percent
compounded bimonthly?
(Round to the nearest cent.)
Homework Answers
Ans $ 5730.74
| FV = | Future Value |
| PV = | Present Value |
| r = | rate of interest |
| n= | no of period |
| FV = | PV (1 + r )n |
| FV = | 4000*(1+6%/24)^144 |
| FV = | 5730.74 |
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