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IrinaVladis [17]

4 years ago

10

Can someone explain to me how to get the answer?

1 answer:

kow [346]4 years ago

7 0

Amount = P $(1+ \frac{r}{n}) ^{nt}$

P is the amount you invested.
r is the interest rate in decimal form (so 6% = 0.06)
n is the number of times a year you are paid interest (semiannually = 2)
nt is the number of payment times you expected (4 years, twice a year = 8 times)

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