Future Value
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If you invest $750 every six months at 8% compounded semi-annually, how much would you accumulate at the end of 10 years?
a. $10,065
b. $10,193
c. $22,334
d. $21,731
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Answer: C
You have to use the following equation.
For interest rate, you have to divide by 2 because it is compounded ...
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