Select the correct answer.
what’s the future value of a $1,000 investment compounded at 8% semiannually for five years?
a : $1,469
b : $1,477
c : $1,480
d : $1,490

The future value of $1,000 invested at 8% compounded semiannually for five years is

Solution:

----------- equation 1

A = future value  

P= principal amount  

i = interest rate

n = number of times money is compounded  

P = 1000

i = 8 %

(Compounding period for semi annually = 2)

Dividing “i” by compounding period

Solving for future value using equation 1

step-by-step explanation:

i dont get

the answers c