Question

Calculate compound interest and future value A savings account has $10000 at 4% interest paid semiannually for 2 yearsa. What is the rate for each period?b. What is the total numbers of compound periods?c. What is the future value?d. What is the compound interest?

Answer 1

Answer:

Step-by-step explanation:

Compound interest and potential profit. $10000 in a savings account yields $816 over two years at 4% interest compounded semi-annually.

Each period's rate is 4%. In total, there are 4 compound periods present in the investment of Years.

Your $10,000 investment will have increased to $10,816 after two years of investing at 4% interest, which is also known as the future value of the investment we made.

Your initial $10,000 investment will have increased to $10,400 after one year of 4% compound interest. Consequently, $400 is the annual interest on a $10,000 investment.

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