Question 1188224: What is the future value of a semi-annual payments of 8,000 pesos for 12 years with interest rate of 12% compounded semi-annually? Answer by Theo(13342) (Show Source):
the results indicate that the future value is $406,524.62 at the end of the 12 year investment period.
inputs are:
pv = 0
fv = 0
np = 12 years * 2 semi-annual time periods per year = 24 semi-annual time periods.
pmt = 8000 at the end of each semi-annual period (entered as negative because it is money going out).
ir = 12% per year / 2 semi-annual time periods per yeqar = 6% per semi-annual time period.
payments are made at the end of each semi-annual time period.
