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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

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The solution answers the question below and goes into quite a bit of detail regarding the Future Value of Payments. The answer is ideal for students looking for a detailed analysis of the question asked below. An excellent response to the question being asked.

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

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