Answer:
Future Value= $112.72
Step-by-step explanation:
Giving the following information:
Initial deposit (PV)= $100
Number of periods (n)= 2*12= 24 months
Interest rate (i)= 0.06/12= 0.005
<u>To calculate the future value (FV), we need to use the following formula:</u>
FV= PV*(1 + i)^n
FV= 100*(1.005^24)
FV= $112.72
Answer:
24
Step-by-step explanation:
Answer:
t = 13 over 25 or in alternate form its t = 0.52
