Posted by dean on Wednesday, August 1, 2012 at 4:12pm.
what is the future value of $2,000 in a bank account for 6 years at 4 percent compounded bimonthly

finance  MathMate, Wednesday, August 1, 2012 at 7:00pm
Present value=PV=2000
r=rate per period(6 periods/year)=(0.04/6)
n=number of periods=6years*6periods/year=36
Use following formula to calculate future value
FV=PV*(1+r)^n