SOLUTION: What is the future value of $4,000 in a bank account for 7 years at 5 percent compounded bimonthly?

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Question 683884: What is the future value of $4,000 in a bank account for 7 years at 5 percent compounded bimonthly?
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
What is the future value of $4,000 in a bank account for 7 years at 5 percent compounded bimonthly?
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FV = 4000*(1 + r)^t
r = 0.05/24
t = 24*7 = 168