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Viefleur [7K]
3 years ago
11

What is the future value if the payments are invested with the first national bank which offers semiannual compounding?

Business
1 answer:
Alex73 [517]3 years ago
6 0
The problem is missing some details. But here is the complete solution. Now consider the second alternative-5 annual payments of $2,000 each. Assume that the payments are made at the starting of each year.

N = 5
I = 10.25
---> this is computed by: [(1+i/n)^n] -1I = <span>[(1+10/2)^2] -1 = 10.25
</span>PV = O
PMT = -2,000
Using a financial calculator...
Future Value = 13, 528.90
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