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2 years ago

14

If $5000 is deposited at the beginning of every six months into an account that earns 8% compounded semiannually find the amount

after 10 years

1 answer:

mixas84 [53]2 years ago

7 0

Answer:

Step-by-step explanation:

This is a geometric sum

s=a(r^n-1)/(r-1), here a=5000, n=20, r=1.04

s=5000(1.04^20-1)/(0.04)

s=$148890.39

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