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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