Post a New Question

algebra

posted by on .

Find the accumulated value of an investment of $15,000 at 7% compounded semiannually for 4 yrs

  • algebra - ,

    V = Po(1+r)^n.

    r = (7% / 2) / 100% = 0.035 = Semi-annual % rate expressed as a decimal.

    n = 2 comp./yr * 4yrs = 8 Compounding
    periods.

    V = $15,000(1.035)^8 = $19,752.14.

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question