What is the future value of $1,560 in 13 years assuming an interest rate of 9 percent
Question:
What is the future value of $1,560 in 13 years assuming an interest rate of 9 percent compounded semiannually?
Future ValueFuture value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...
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Step by Step Answer:
For this problem we simply need to find the FV of a lump sum using the equation FV P...View the full answer
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Related Book For 
Essentials Of Corporate Finance
ISBN: 9780073382463
7th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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