I have used a Compounded Interest Formula to calculate the total amount after a year.
100000 invested on Jan 1st 2021 yields 5% every 2 weeks. So the total would be 355567.27 on Jan 1st 2022.
Is my calculation correct?
This is what I did.
>Solution :
Yes, if it is really compounding 5% every two weeks.
Outside the scope of the question, but I find the FV formula in Excel does not simplify things. It would be easier for me to do =100000*(1.05)^26.