Deposits of $47.00 are made at the end of every six months for 9 years. What will the deposits amount to if interest is 6% compounded semi-annually? The future value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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We have deposits of $47.00 made every six months for 9 years. There are 2 periods in a year (semi-annually), so there are 2 * 9 = 18 periods in total. Show more…
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