Find the future value of an annuity due of $700700 semiannually for fourfour years at 88% annual interest compounded semiannually. what is the total investment? what is the interest?

The future value of annuity is $27850302.48

The Investment amount is $ 37900.259

The compound interest is $ 662799.741

Step-by-step explanation:

Given as :

The due amount = $ 700700

the rate of interest compounded semiannually = 88%

The time period  = 4 years

Let The investment principal = $ P

The interest = CI

Let The future value of annuity = FV

Now, The future value of Annuity method

FV = Amount ×

Or, FV = $700700  ×

Or, FV = $700700  ×  

Or, FV = $700700  × 39.7464

∴   FV = $27850302.48

Now, from compounded method

Amount = Principal ×

Or, $ 700700 =  P  ×

Or,  $ 700700 =  P  ×

or, $ 700700 =  P  × 18.488

∴ P  = = $ 37900.259

So, Investment amount = $ 37900.259

Now,

Compound Interest = Amount  - Principal

Or, CI = $ 700700 - $ 37900.259

Or, CI = $ 662799.741

Hence The future value of annuity is $27850302.48

The Investment amount is $ 37900.259

The compound interest is $ 662799.741       Answer

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