Question

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

Answer 1

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

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