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Question:
What is the future value of $1,750 in 17 years assuming an interest rate of 6.5 percent compounded semiannually?
Future Value:
Future value refers to the future sum of money that is equivalent to a given amount of money today that earns a specific interest rate. The calculation of future value can be applied to many real-life scenarios.
Answer and Explanation:1
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The future value formula is:
{eq}FV = PV \times (1+ \dfrac{r}{n})^{n \times t}{/eq}, where:
- FV = future value
- PV = present value
- r = nominal...
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Future Value Definition Formula & Examples
from
Chapter 5/ Lesson 16
40K
Understand the definition of future value and the future value formula. Explore some examples that show how to calculate the future value of an investment.
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