What is the future value of $3,100 in 17 years assuming an interest rate of 8.4 percent compounded semiannually
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Ответ:
$12,556.37
Explanation:
Calculation to determine What is the future value
Using this formula
Future value = PV(1 + r)^n
Let plug in the formula
Future value = $3,100[1 + (.084/2)]^17(2)
Future value = $12,556.37
Therefore the future value is $12,556.37
Ответ: