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Orlov [11]
3 years ago
6

Find the future value of $3000 invested at 6% p.a interest compounded half-yearly for 4 years

Mathematics
1 answer:
alekssr [168]3 years ago
6 0

Answer:

F=$3810

Step-by-step explanation:

F=P(1+i)^{n}

F= future value

P= present value

i = interest

n= number of times money compounded

P=$3000 i=6%   n = 2 X 4= 8

As this is semiannual so 6%/2=3%

F=P(1+0.03)^{8}

F=3000(1.03)^{8}

F=3000(1.267)

F=3810

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