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

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Question 816582: What is the future value of 4,000 in a bank account for 5 years at a 4 percent compounded bimonthly
Answer by stanbon(75887) 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 5 years at a 4 percent compounded bimonthly.
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A(t) = P(1+(r/n))^(nt)
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A(5) = 4000(1+(0.04/6))^(6*5) = $4882.37
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Cheers,
Stan H.
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