Ask Question
14 July, 01:19

What is the future value of $2,600 in 19 years assuming an interest rate of 7.9 percent compounded semiannually? (do not round intermediate calculations and round your final answer to 2 decimal places. (e. g., 32.16)) ?

+2
Answers (1)
  1. 14 July, 01:39
    0
    The future value will be given by the formula:

    FV=p (1+r/100n) ^nt

    where

    p=principle

    r=rate

    n=terms

    t=time

    thus plugging the values in the formula we get:

    FV=2600 (1+7.9 / (100*2)) ^ (19*2)

    FV=$11,331.94

    Answer: $11,331.94
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “What is the future value of $2,600 in 19 years assuming an interest rate of 7.9 percent compounded semiannually? (do not round intermediate ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers