I have no idea how to do this..please help?

Marcus wants to purchase a home in six years. He will contribute $2500 each year to a savings account with 2.64% interest, compounded semiannually. What is the future value of this investment, when Maurice needs to make a down payment?

Question

I have no idea how to do this..please help?

Marcus wants to purchase a home in six years. He will contribute $2500 each year to a savings account with 2.64% interest, compounded semiannually. What is the future value of this investment, when Maurice needs to make a down payment?

anonymous · Answer

This is making 12 terms. 
Value after 12 terms will 2500 x 1.0264 exp12= 3417 usd

anonymous · Answer

Um.. these are my choices:
$16,138.37

 $16.351.40

 $32,276.74

 $32,702.79

anonymous · Answer

ouch sorry i ommit that we save regularly money, will think to it.