Astudent desired to invest $1,540 into an investment at 9% compounded semiannually for 6 years. with all else equal, what is the future value of this initial investment after the six year period

The future value of this initial investment after the six year period is $2611.6552

Step-by-step explanation:

Consider the provided information.

A student desired to invest $1,540 into an investment at 9% compounded semiannually for 6 years.

Future value of an investment:

Where Fv is the future value, p is the present value, r is the rate and n is the number of compounding periods.

9% compounded semiannually for 6 years.

Therefore, the value of r is:

Number of periods are: 2 × 6 = 12

Now substitute the respective values in the above formula.

Hence, the future value of this initial investment after the six year period is $2611.6552

coins of silver or gold

step-by-step explanation:

the terms of a geometric sequence can be found by beginning with the first term and multiplying by the common ratio repeatedly. a recursive formula for a geometric sequence with common ratio r is given by an=ran−1 a n = r a n − 1 for n≥2 n ≥ 2 .

step-by-step explanation: