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    Calculate the future value of payments

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    Based on the following information, determine the future value of the payments on December 31, 2015.

    Amount deposited every January 1st $20,000
    length of deposits 2008 - 2015
    Assumed interest rate 9%
    Interest computed Semi-annually

    Please show work

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    Solution Preview

    I have used Excel formulas to solve this. I recommend that you either use Excel or a financial calculator for these problems. Thanks.

    This will be ...

    Solution Summary

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