queenjade4594 queenjade4594

09-04-2018
Business

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The future value of $100 received today and deposited in an account for four years paying semiannual interest of 6 percent is ________.

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togbadoya togbadoya

13-04-2018

Formula: FV = PV(1+ r)^n

Fv is the future value, Pv is the present value, r is the interest rate, n is the number of periods.

FV = $100(1 + 0.06)^(6*2) = $201.22

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