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svlad2 [7]
2 years ago
14

What is the future value of a R 75 000 deposit made every 6 months for 3 years using an annual rate of 10% compounded semi-annua

lly?​
Mathematics
1 answer:
dolphi86 [110]2 years ago
8 0

Answer:

The future value is: RS 132867.075

Step-by-step explanation:

Given

PV = 75000 --- present value

r = 10\% --- annual rate

n = 6 --- number of times compounded (3 years/ 6 months)

Required

The future value

This is calculated as:

FV =PV * (1 + r)^n

FV = 75000 * (1 + 10\%)^6

FV = 75000 * (1 + 0.10)^6

FV = 75000 * (1.10)^6

FV = 132867.075

<em>Hence, the future value is: RS 132867.075</em>

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