Answer to Question #171442 in Economics for King

Question #171442

Future value of ordinary annuity

find the future value of an annuity of 5,600 payable at the end of every six months for 4&1/2 years, if the interest rate is 6% compounded annually

Expert's answer

"FVa = \\frac{5,600\u00d7((1 + 0.06)^{4.5} - 1)} {0.06\/2} = 55,962.59."

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