Problema Solution
find the amount of the ordinary annuity based on the information given.
pv=12,500
percent rate=6%
=interest compound semi-annually
period= 8 years
what is the Future Value
Answer provided by our tutors
FV = PV (1+r)n*2
= 12500 (1+0.06/2)8*2
= 12500 (1.03)16
=12500*1.604706439
= 20058.83049