What is the future value of $1,000 after six months earning 12% annually?
A) $1,050.00
B) $1,060.00
C) $1,120.00
D) $1,058.30

Name: What is the future value of $1,000 after six months earning 12% annually? A) $1,050.00 B) $1,060.00 C) $1,120.00 D) $1,058.30
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Question

Quizplus · Accepted Answer

Using the formula for future value: 
FV = PV(1 + r/n)^(nt)
where:
PV = $1,000
r = 0.12 (annual rate)
n = 2 (since interest is compounded semi-annually)
t = 0.5 years
FV = $1,000(1 + 0.12/2)^(2*0.5) = $1,058.30
Therefore, the best choice is D.

What Is the Future Value of $1,000 After Six Months