Given Information:
Years = t = 35
Semi-annual deposits = P = $2,000
Compounding semi-annually = n = 2
Interest rate = i = 6.5%
Required Information
Accumulated amount = A = ?
Answer:
Accumulated amount = $515,827
Step-by-step explanation:
The future value of amount earned over period of 35 years and interest rate 6.5% with semi-annual deposits is given by
FV = PMT * ((1 + i/n)^nt - 1)/(i/n))
Where
n = 2
i = 0.065
t = 35
FV = 2000*((1 + 0.065/2)^2*35 - 1)/(0.065/2))
FV = 2,000*(257.91)
FV ≈ $515,827
Therefore, Anthony will have an amount of $515,827 when he retires in 35 years.
Answer:
C, the set of all possible output values
Step-by-step explanation:
Range = Output
131.818182% and can round to 131.82
You know what its probably 7.44
Hello! I believe you are referencing to powers of 10. In this case 10^2 is 100. 5.6 * 100 = 560. Okay. We are looking for the expression that will give the solution that is 100,000 times greater than 560. Okay. 100,000 * 560 is 56,000,000. That is 56 million. In this case, 10^7 is equivalent to 10,000,000, because there are 7 zeros behind the 1. 5.6 * 10^7 is 56,000,000. There. 56 million is 100,000x greater than 560. The answer is B.