The problem is missing some details. But here is the complete solution. Now consider the second alternative-5 annual payments of $2,000 each. Assume that the payments are made at the starting of each year.
N = 5
I = 10.25
---> this is computed by: [(1+i/n)^n] -1I = [(1+10/2)^2] -1 = 10.25
PV = O
PMT = -2,000
Using a financial calculator...
Future Value = 13, 528.90
