Homework Help: math

Posted by shannon on Saturday, July 11, 2009 at 11:59pm.

what would be the amount of compound interest on %6,000 invested for 2 years att 9%, compounded semiannually? round your answer to the nearest dollar

math - MathMate, Sunday, July 12, 2009 at 12:07am
Principal P=6000$
Interest = 9% p.a. = 4.5% /6 months

Principal and interest after 2 years
= 6000 * (1.045)⁴
= 6000 * 1.1925186
= 7155.11
Interest after two years
= 7155.11 - 6000
= 1155.11$
math - Anonymous, Friday, February 22, 2013 at 2:54am
8,450. The terms of sale are 2/10, n/30.

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