Calculate the future value of $5,000, semiannually, at 6% for 5 years
![]() |
Calculate the future value of $5,000, semiannually, at 6% for 5 years
Katydid you read the forum's homework assistance rules? Show your attempts on the problem, and then post back in.
Sorry, I will have to post it later. Thanks
I'll give you the formula or semiannual interest
(interest+1)(starting value)^years times 2
It's not interest + 1. It has to be adjusted for the compounding effect of the semi-annual interest payments.
Many classes don't do equations for this anyway.
| All times are GMT -7. The time now is 04:07 AM. |