Posted by Anonymous on Sunday, November 6, 2011 at 1:25pm.
V = Po(1+r)^n.
r = (7% / 2) / 100% = 0.035 = Semi-annual % rate expressed as a decimal.
n = 2 comp./yr * 4yrs = 8 Compounding
periods.
V = $15,000(1.035)^8 = $19,752.14.
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