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3 years ago

Find the compound amount for the deposit. Round to the nearest cent. $15,000 at 8% compounded semiannually for 10 years

Business

1 answer:

Andre45 [30]3 years ago

4 0

Answer:

$17,866.85

Explanation:

Use the following formula to calculate the compound amount

Compound Amount = Future value of deposit - Initial deposit

Where

Future value of deposit = Initial Deposit x ( 1 + Periodic interest rate )^numbers of compounding periods = $15,000 x ( 1 + ( 8% x 6/12 ) )^(10 x 12/6 ) = $32,866.85

Initial Deposit = $15,000

Placing values in the formula

Compound Amount = $32,866.85 - $15,000

Compound Amount = $17,866.85

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Given,

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3 years ago

Record the January 31, 2019 adjusting entry for the December 31, 2018 receipt of $3,000 from race participants for providing ser

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Answer:

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3 years ago

tAn employee has a claim on the cash flows of Martin’s Machines. This claim is defined as a claim by one of the firm's:

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Complete Question:

An employee has a claim on the cash flows of Martin's Machines. This claim is defined as a claim by one of the firm's:

Group of answer choices

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Answer:

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