The future value of $100 compounded semiannually for 3 years at 12% equals $140.49.(PV of $1,FV of $1,PVA of $1,and FVA of $1)$\bold{\text{(Use appropriate factor(s)from the tables provided.)}}$

Question

Quizplus · Accepted Answer

The future value of $100 compounded semiannually for 3 years at 12% is calculated using the formula $FV = PV \times (1 + r/n)^{nt}$, where $PV$ is the present value, $r$ is the annual interest rate, $n$ is the number of compounding periods per year, and $t$ is the time in years. Given $PV = $100$, $r = 12\% = 0.12$, $n = 2$, and $t = 3$, the calculation is $FV = $100 \times (1 + 0.12/2)^{2 \times 3}$, which does not equal $140.49. The correct calculation leads to a different amount.

The Future Value of $100 Compounded Semiannually for 3 Years (Use appropriate factor(s)from the tables provided.)\bold{\text{(Use appropriate factor(s)from the tables provided.)}}(Use appropriate factor(s)from the tables provided.)

The Future Value of $100 Compounded Semiannually for 3 Years $\bold{\text{(Use appropriate factor(s)from the tables provided.)}}$