SOLUTION: What is the future value of $4000.00 for 9 years at 4% compounded semiannually?

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Question 561109: What is the future value of $4000.00 for 9 years at 4% compounded semiannually?
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
Principal P = 4000
Amount= A
years=n 9.00
compounded 2 times a year t
Rate = 4.00 0.02
Amount = P*((n+r)/n)^n*t

Amount =4000*(1+0.02)^9 *2
Amount =4000*(1 +0.02)^ 18
=4000 *( 1.02 )^ 18
Amount = 5712.98