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3 years ago

How much will jay investment be worth in eight years if she invested $13,500 at 5.2% in interest compounded semiannually

Mathematics

1 answer:

schepotkina [342]3 years ago

5 0

13,500 at 5.2 for 8 years compounded semi-annually.

Total = Principal * (1 + rate/n) ^n * years

where "n" = number of compounding periods per year.

Total = 13,500 * (1 + .052 / 2) ^ 2 * 8

Total = 13,500 * (1.026) ^ 16

Total = 13,500 * 1.5078487226

Total = 20,355.96

Source

1728.com/compint3.htm

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