Answer:
$113.08
Step-by-step explanation:
The formula for calculating future value:
FV = P (1 + r/m)^mn
FV = Future value
P = Present value
R = interest rate
N = number of years
m = number of compounding
14,000(1.12)^2 = 17,561.60
14,000 ( 1 + 0.12/2)^(2x2) = 17674.68
Difference : 17674.68 - 17,561.60 = $113.08
