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November 22, 2014

November 22, 2014

Posted by **Anonymous** on Sunday, November 6, 2011 at 1:25pm.

- algebra -
**Henry**, Sunday, November 6, 2011 at 5:00pmV = 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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