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The future value of $200 received today and deposited for three years in an account which pays semiannual interest of 8 percent is ________. $134.66 $253.00 $158.00 $252.00
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The future value of $200 received today and deposited for three years in an account which pays semiannual interest of 8 percent is ________. $134.66 $253.00 $158.00 $252.00

User Arkadiusz
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1 Answer

5 votes
The formula is
A=P (1+r/k)^kt
A future value?
P present value 200
R interest rate 0.08
K compounded semiannual 2
T time 3years

A=200×(1+0.08÷2)^(2×3)
A=253....answer
User Henriquesalvaro
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