algebra
posted by Anonymous on .
Find the accumulated value of an investment of $15,000 at 7% compounded semiannually for 4 yrs

V = Po(1+r)^n.
r = (7% / 2) / 100% = 0.035 = Semiannual % rate expressed as a decimal.
n = 2 comp./yr * 4yrs = 8 Compounding
periods.
V = $15,000(1.035)^8 = $19,752.14.