Problema Solution
. What is the present value of $73,000 in 11 years if the interest rate is 8% compounded semiannually
Answer provided by our tutors
Amount after 11 years compounded semiannually on $73,000 is
A= 73000(1+0.08/2)^11*2
A=73000(1.04)^22
A=73000*2.37
A=173004.07
Amount after 11 years compounded semiannually=$173004.07