Answer to Question #95673 in Economics for Nondumiso

Question #95673

Calculate the future value of R10 000 invested for 5 years at an interest rate of 7 %, interest compounded semi-annually.... a) R14 026 b)R14 106 c) R14 900 d) R16 234

Expert's answer

"A= P(1+r\/n) ^ t.n"

"=10,000(1+0.07\/2)^5.2\n\n=14,105.9\n\n=R 14,106"

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