Question

What is the future value of $10,000 invested for 5 years at 6 percent compounded semi-annually?Please...

What is the future value of $10,000 invested for 5 years at 6 percent compounded semi-annually?Please provide step-by-step instructions for solving the problem

$13,439.16

$10,000.00

$13,382.26

$13,192.87

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Homework Answers

Answer #1

Amount Invested Today for 5 years= $10,000

Interest rate is 6% compounded semi-annually

Calculating the Future Value of $10,000 invested today using the formula:-

Where, Invested Amount = $10,000

r = Interest rate = 6%

n= no of periods = 5 years

m = no of times compounding in a year = 2 ( as Semi-annually compounding)

Future Value = $13,439.16

Hence, Option A. $ 13,439.16

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