What is the future value of a R 75 000 deposit made every 6 months for 3 years using an annual rate of 10% compounded semi-annually?

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Mathematics Thu Giang 4 years 2021-09-05T03:02:18+00:00 2021-09-05T03:02:18+00:00 1 Answers 14 views 0

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thuhuong · Answer 1 · 2021-09-05T03:04:04+00:00

thuhuong

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2021-09-05T03:04:04+00:00 September 5, 2021 at 3:04 am

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Answer:

The future value is: RS 132867.075

Step-by-step explanation:

Given

$PV = 75000$ — present value

$r = 10\%$ — annual rate

$n = 6$ — number of times compounded (3 years/ 6 months)

Required

The future value

This is calculated as:

$FV =PV * (1 + r)^n$

$FV = 75000 * (1 + 10\%)^6$

$FV = 75000 * (1 + 0.10)^6$

$FV = 75000 * (1.10)^6$

$FV = 132867.075$

Hence, the future value is: RS 132867.075