When an investor evaluates a 6-month compound interest of 1.500.000 TL with an interest rate of 15 percent, how much will it be with interest after 4 years?
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Expert's answer
2021-01-20T13:52:54-0500
Amount=1,500,000
semi-annual rate =15/2=7.5%
number of periods =4×2=8
values in 4 years = =1,500,000×(1+0.075)8=2675216.74
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