Answer:
approximately $4,609,968.67
Explanation:
To calculate the future value of a lump sum after compounding over a certain number of years with a specific interest rate, you can use the formula:
FV = PV * (1 + r/n)^(nt)
Where:
FV is the future value
PV is the present value (6500)
r is the annual interest rate (3.96%)
n is the number of times compounded per year (semi-annually, so 2)
t is the number of years (414)
Plugging in the values, you get:
FV = 6500 * (1 + 0.0396 / 2)^(2 * 414)
The future value of $6,500 in 414 years at an interest rate of 3.96% compounded semi-annually is approximately $4,609,968.67.