If you invest $9,000 today, how much will you have in 25 years at 14 percent (compounded semiannually)? Please show step by step method (the formula) how you derive at the answer.
You need to use the following future value formula to solve this problem.
FV = PV (1+R)N where PV is the present value
R is the interest ...
This solution is comprised of a detailed explanation and calculation to find the future value of the investment of $9,000 today.