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Your high school classmate is offering you an investment opportunity which requires you to make monthly payments of $238 each (1 st payment is 1
Your high school classmate is offering you an investment opportunity which requires you to make monthly payments of $238 each (1st payment is 1 month from today), over the next 13 years. It offers a nominal annual return of 4 % with semi-annual compounding. What is the future value of this investment at the end of its life (including all your payments and all interest)? (Round your answer to three decimal places. For example 1.23450 or 1.23463 will be rounded to 1.235 while 1.23448 will be rounded to 1.234).
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