Answer to Question #155462 in Financial Math for tadz

Question #155462

What is the maturity value of $5000 invested at 6% compounded semi-annually for seven years.


1
Expert's answer
2021-01-14T17:26:09-0500

"FV=PV(1+I){^n}"


"i=\\frac{6\\%}{2}=3\\%"


"n=7\\times2=14"


"5000(1+0.03)^{14}"

"5000\\times2"

=$10000



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