What is the future value (FV) of $7,000,000 in twenty five years, assuming the interest rate is 1 2% per year and interest is applied semi-annually?

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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What is the future value (FV) of $7,000,000 in twenty five years, assuming the interest rate is 1
2% per year and interest is applied semi-annually?
Transcribed Image Text:What is the future value (FV) of $7,000,000 in twenty five years, assuming the interest rate is 1 2% per year and interest is applied semi-annually?
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