1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Luba_88 [7]
3 years ago
11

Suppose that 2000 is invested at a rate of 2.4% , compounded semiannually. Assuming that no withdrawals are made, find the total

amount after 9 years.
Do not round any intermediate computations, and round your answer to the nearest cent.
Mathematics
1 answer:
gtnhenbr [62]3 years ago
4 0

Answer:

$2479.02

Step-by-step explanation:

The invested amount is $2000 at a rate of 2.4% which compounds semiannually.

Therefore, the semiannual interest rate is \frac{2.4}{2} = 1.2%.

Then the principal is compounded (9 × 2) = 18 times within a period of 9 years.

If there is no withdrawal from the account, then after 9 years the sum will become

2000(1 + \frac{1.2}{100} )^{18} = 2479.02 dollars {Rounded to the nearest cent} (Answer)

You might be interested in
Simplify the expression left parenthesis (3/5)2
koban [17]
6 because if you multiply (3/5)2 you get 6
8 0
3 years ago
The probability that Jessica will strike oil is 18%. If she drills 14 wells, find the probability that she will make exactly 4 s
barxatty [35]

Answer:

19 678932

Step-by-step explanation:

i am not sure

7 0
3 years ago
What is 48% of 64 please give right answers only
Charra [1.4K]

Answer:

30.72

Step-by-step explanation:

7 0
3 years ago
Find 20 hours is 30 minutes​
Tom [10]

Answer:

24×20×30=14,400 minutes

4 0
2 years ago
Can someone help me please?
Mars2501 [29]

Answer:

Answer below

Step-by-step explanation:

Point D: (-6,-1)

Point C: (-3,0)

Point B: (-3,6)

Point A: (0,0)

8 0
2 years ago
Other questions:
  • The members of Maggie's choir have a mean height of 58 inches, with a standard deviation of 4 inches. The choir includes both ch
    13·1 answer
  • In simplest form, which mixed number is equivalent to 22\8
    5·1 answer
  • Factor the expression completely. (If the expression is not factorable using integers, enter PRIME.)
    6·2 answers
  • QUESTION 10
    15·1 answer
  • How many variable terms are in the expression 3x3y + 5x2 + y + 9? (Input a numeric value only.)
    8·2 answers
  • Margie's car can go 32 miles on a gallon of gas, and gas currently costs $4$4 per gallon. How many miles can Margie drive on $20
    15·2 answers
  • Numbers 2 and 4 answers ASAP
    8·1 answer
  • What is the exact value of tan (StartFraction 5 pi Over 8 EndFraction)
    14·2 answers
  • Find the value of x and the measure
    13·1 answer
  • Choose the item that has measurable volume.
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!