Qatar Automation Company borrows $1,000,000 from a bank a nominal interest rate of 10% per year, compounded semi annually

Qatar Automation Company borrows $1,000,000 from a bank a nominal interest rate of 10% per year, compounded semi annually

 

 

answer:

Future value = Present value(1+i)n

= 1000,000*(1+.05)^6

=1000000*1.3400

=1340095.64

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