> Semi-annual compounding?

Semi-annual compounding?

Posted at: 2014-12-05 
Me, aged 42, has $120,000 invested in my superannuation account. If the overall return on my funds is 4% p.a. compounded semi-annually, how much will I have accumulated at age 56?

Use the formula for the FV of $1, where PV is 120,000, R 2%, N 28.

Me, aged 42, has $120,000 invested in my superannuation account. If the overall return on my funds is 4% p.a. compounded semi-annually, how much will I have accumulated at age 56?