Initial Deposit = $7000
It means P= $7000
rate of interest = 10%
So , r = 0.10
compounded quarterly , so n = 4
and we have to find the amount after 5 years , So t = 5
Now the formula we use here is
So amount after 5 years = $11470.315
Using technology, determine the semi-annual payment on a 6 year loan of $19,264 at 7.2% compounded semi-annually. Round you answ
2 answers:
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