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Vikentia [17]
3 years ago
14

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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