The Solution to This Problem Requires Time Value of Money

question 152

Multiple Choice

The solution to this problem requires time value of money calculations.Reference to Tables 9-1 through 9-4 in the text is necessary to complete the calculations.
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The future value of equal semiannual payments of $500 at 8% compounded semiannually for four years is

• A)$868.
• B)$2,000.
• C)$4,607.
• D)$9,320.

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