Calculate the future value of an investment of $ 11,500 that pays the nominal 8.5% semiannual at 6 years.
We use the formula:
A=P(1+r/200)^2n
where
A=future value
P=present value
r=rate of interest
n=time period.
A=$11500*(1+0.085/2)^(2*6)
=$11500*1.64783136
=$18950.06(Approx).
Calculate the future value of an investment of $ 11,500 that pays the nominal 8.5% semiannual...
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