SOLUTION: Present value of $680 invested for 4 years at 5% p.a. compounded biannually

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Question 1127956: Present value of $680 invested for 4 years at 5% p.a. compounded biannually
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+A+=+P%2A%28+1+%2B+r%2Fn+%29%5E%28n%2At%29+
+P+=+680+
+t+=+4+
+n+=+2+
+r+=+.05+
------------------------
+A+=+680%2A%28+1+%2B+.05%2F2+%29%5E%282%2A4%29+
+A+=+680%2A1.025%5E8+
+A+=+680%2A1.2184+
+A+=+828.514+
The value after 4 yrs is $828.51