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OpenStudy (anonymous):
You deposit $7,500 into a savings plan at the end of every six months. The interest rate is 4% compounded semiannually. Find the value of the annuity after 4 years. Do not round until the final answer. Then, round to the nearest cent. CHOOSE ONE A $210,912.00 B $439,372.27 C $55,757.13 D $64,372.27 When I tried to solve I got 15600 which is way too small compared to the other answers... does anyone know how to solve? This is using the annuity formula
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OpenStudy (anonymous):
I thinks its D
OpenStudy (anonymous):
How come?
OpenStudy (anonymous):
ans D.. just use d same face value formula.. but take r as r/2, t as 2T sinces compounding done semiannualy
OpenStudy (anonymous):
oh!! Ok thank you all!
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OpenStudy (anonymous):
Yep Yep np
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