Wednesday

October 22, 2014

October 22, 2014

Posted by **linda** on Tuesday, November 13, 2012 at 12:24pm.

- math -
**Reiny**, Tuesday, November 13, 2012 at 12:33pmThe amount invested does not matter

You simple want the annual rate equivalent to 6% per annum compounded semiannually

let that rate be i

1+i = 1.03^2

1+i = 1.0609

i = .0609

= 6.1%

**Answer this Question**

**Related Questions**

bussiness math - what is the effective rate of $18,000 invested for one year at ...

math - compounded- what would be the amount of compound interest on $12,000 ...

Algebra - How long will it take $7,000 invested at 5.5% compounded daily to grow...

math-help solve please - find out how long it takes a $2700 investment to double...

precalc - If a savings fund pays interest at a rate of 10% per year compounded ...

Math - What would be the amount of compound interest on $8,000 invested for one ...

MATH - What would be the amount of coumpound interest on $8,000 invested for one...

MATH - What wold be the amount of coumpound interest on $8,000 invested for one ...

algebra 2 - $9000 is invested at 8% compounded quarterly. In how many years will...

algebra II - $9000 is invested at 8% compounded quarterly. In how many years ...