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QUESTION
If I earn 6.18% annual interest compounded every two years. Then my current $100 be worth in 5 years?
If I earn 6.18% annual interest compounded every two years. Then my current $100 be worth in 5 years?
Future value = Present value* (1+Rate*m) ^n/m,Where, n = number of years= 5yearsM= length of compounding= after 2yearsPresent value=$100Rate =6.18%=0.0618Future value =$100* (1+0.0618*2) ^5/2...