Suppose that 2000 is loaned at a rate of 9% , compounded semiannually. Assuming that no payments are made, find the amount owed after 10 years.

Amount = 2000(1.045)^20

= $4823.43

Amount = 2000(1.045)^20

=

To find the amount owed after 10 years, we can use the formula for compound interest:

A = P(1 + r/n)^(nt)

Where:
A = the final amount (amount owed)
P = the principal (initial loan amount)
r = the interest rate per period (as a decimal)
n = the number of compounding periods per year
t = the number of years

In this case, the principal (P) is $2000, the interest rate (r) is 9% (or 0.09 as a decimal), and the compounding periods (n) is semiannually (2 times per year). We are looking for the amount after 10 years (t = 10).

Plugging in these values into the formula, we get:

A = 2000(1 + 0.09/2)^(2*10)

Simplifying this equation:

A = 2000(1 + 0.045)^(20)
= 2000(1.045)^(20)
≈ 2000(1.48024)

Calculating further:

A ≈ $2,960.48

Therefore, the amount owed after 10 years would be approximately $2,960.48.

2000x1.66x9

=18000x166/100
=1380+2000
=(3380)x10
=33800