Business math

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Find the future value of an investment of ​$10 ,500 if it is invested for six years and compounded semiannually at an annual rate of 3​%. Use the​ $1.00 future value table or the future value and compound interest formula.

  • Business math -

    i = .03/2 = .015
    n = 6(2) = 12

    amount = 10500(1.015)^12
    = ...

  • Business math -

    12 553.9908

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