Mathematicians! Can you guys help figure this one out
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Mathematicians! Can you guys help figure this one out

[From: ] [author: ] [Date: 12-07-05] [Hit: ]
-Right formula, wrong inputs.6000 (1 + .04/2)^6 = $6,756.Semiannually means twice a year so periods per year = 2 and total periods is 6 (2 for 3 years)-I dont know where youre getting 0.......
Determine the final amount or future value for an investment of $6000 at a 4% annualized interest rate for 3 years, compounded semi-annually.

Is this the right formula for this problem? : 6000(1+0.07/4)^32 = $10,453,28

I am not sure if this is the right equation for this problem, but I just want to know if I am right since it is looking for a future value. Thanks!!

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Right formula, wrong inputs. 6000 (1 + .04/2)^6 = $6,756.97

Semiannually means twice a year so periods per year = 2 and total periods is 6 (2 for 3 years)

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I don't know where you're getting 0.07 from.

I think it's:

6,000 (1 + 0.04/2)^6

6,000(1.02)^6 = $6,756.94

If it's semi-annually, I think it's twice a year. So that would make 6 interest periods.

If semi-annually means 4 times a year, then it's 6,000(1.01)^12

I hope this information was very helpful.

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Final amount = 6000(1 + (0.04)/2)^6

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6000(1.02)^6
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