Find the accumulated value of an investment of $7000 at 12% compounded semiannually for 12 years.
1 answer:
Answer:
$28,342.54
Step-by-step explanation:
The value of an account earning compound interest is found using the formula ...
A = P(1 +r/n)^(nt)
where P is the principal invested at annual rate r compounded n times per year for t years.
__
You have P=7000, r=0.12, n=2, t=12.
Using these values in the formula, we find the accumulated value of the investment to be ...
A = 7000(1 +0.12/2)^(2·12) = 7000(1.06^24) ≈ 28,342.54
The value after 12 years is $28,342.54.
_____
<em>Additional comment</em>
The time-value-of-money functions of your calculator or spreadsheet can find this for you.
You might be interested in
Answer:
Bottom left graph
Step-by-step explanation:
We have to use what is called the zero-interval test [test point] in order to figure out which portion of the graph these inequalities share:
−2x + y ≤ 4 >> Original Standard Equation
+ 2x + 2x
_________
y ≤ 2x + 4 >> Slope-Intercept Equation
−2[0] + 0 ≤ 4
0 ≤ 4 ☑ [We shade the part of the graph that CONTAINS THE ORIGIN, which is the right side.]
[We shade the part of the graph that does not contain the origin, which is the left side.]
So, now that we got that all cleared up, we can tell that the graphs share a region in between each other and that they both have POSITIVE <em>RATE OF CHANGES</em> [<em>SLOPES</em>], therefore the bottom left graph matches what we want.
** By the way, you meant because this inequality in each graph is a <em>dashed</em><em> </em><em>line</em>. It is ALWAYS significant that you be very cautious about which inequalities to choose when graphing. Inequalities can really trip some people up, so once again, please be very careful.
I am joyous to assist you anytime.