# Calculate the future value of payments

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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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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$2.19