Question
Calculate the future value. Present Value Interest Rate Payments Timing of Payment Years Future Value $38,000.00 5.7% semi-annually $500.00 monthly Beginning 12 ??? a. Use
Calculate the future value.
| Present Value | Interest Rate | Payments | Timing of Payment | Years | Future Value |
| $38,000.00 | 5.7% semi-annually | $500.00 monthly | Beginning | 12 | ??? |
a. Use the compound interest formula, FV=PV(1+i)N, to find the future value of the current amount in the investment.
After 12 years, the $38,000.00 will grow to
Determine the total future value of the investment (incorporating your answer from part a. above)
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Audit Risk Alert Employee Benefit Plans Industry Developments 2017
Authors: AICPA
1st Edition
1945498722, 978-1945498725
