Question

Find the future value of an annuity due of $7,000 paid at the beginning of each 6-month period for 8 years if the interest rate is 8%, compounded semiannually. (Round your answer to the nearest cent.)

Answer 1

Answer: Im not sure but i think its 120,960

Step-by-step explanation: i know that there is 2 of the 6-month periods in a year and multiplied that by 8 and got 16. Then i did 7000x.08=560 and then i added that to 7000 and got 7560. FInally i multiplied that by 16 and got 120,960.