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Calculate the amount that will be accumulated after 20 years if $1600 is invested at the beginning of every six months at 13.5% compounded semiannually
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Answered by
Don
Number of periods = 20 Years * 2 (periods per year) = 40
PV= $1600
i/2 = 13.5%/2 = 0.0675
FV = ? = PV * (1 + i/2)^N = 1600 * (1 + 0.0675)^40 = $21,819.02
PV= $1600
i/2 = 13.5%/2 = 0.0675
FV = ? = PV * (1 + i/2)^N = 1600 * (1 + 0.0675)^40 = $21,819.02
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