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vampirchik [111]
3 years ago
11

Find the accumulated value of an investment of 12,000 at 8 % compounded semiannually for 11 years

Mathematics
1 answer:
AleksAgata [21]3 years ago
4 0
The "compound amount" formula is A = P(1+r/n)^(nt),
where P=original investment, r=interest rate as a decimal fraction; n=number of compounding periods, and t=number of years.

Then A = $12000 * (1+0.08/2)^(2*11) 
             = $12000(1.04)^(22)  =  $28,439.03  (answer)
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