Asked by jack
The accumulated value of $500 payable semi-annually at the end of each half-year
over 10 years if interest is 8% p.a. payable semi-annually is:
A. $14,889.04
B. $7,066.97
C. $62,500.00
D. $15,484.60
over 10 years if interest is 8% p.a. payable semi-annually is:
A. $14,889.04
B. $7,066.97
C. $62,500.00
D. $15,484.60
Answers
Answered by
mathhelper
evaluate:
500(1.04^20 - 1)/.04
500(1.04^20 - 1)/.04