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yarga [219]
3 years ago
7

If $13,300 is invested at 3.7% interest compounded semi-annually, how much will the investment be worth in 18 years?. . A.$25,73

0.54. B.$25,808.47. C.$25,861.09. D.$25,578.16
Business
2 answers:
Alla [95]3 years ago
7 0
Principal (P) = $13300
Rate of interest (r) = 3.7%
Number of times compounded in a year (n) = 2
Number of years (t) = 18 years
Then
Amount = P(1 + r/n)^nt
             = 13300[1 + (0.037/2)]^36
             = 13300[1 + 0.0185]^36
             = 13300(1.0185)^36
             = 13300 * <span>1.9346
             = 25730.54 dollars
From the above deduction, it can be concluded that the correct option among all the options that are given in the question is the third option or option "C".</span>
Shkiper50 [21]3 years ago
3 0

The answer is A. $25,730.54


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