MATH

At the age of 50 Sally invested $60,000 at 7% interest compounded semiannually. How much will she have at age 50
(60,000*(1+(0.07/2))^2-1)

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asked by Petra
  1. Please proofread and post your correction.

  2. Sally is 25 years old and plans to retire at the age of 50. She invested an inheritance of $60,000 at a 7% interest compounded semiannually. How much will she have at age 50?
    (60,000*(1+(0.07/2))^2-1)=

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    posted by Petra
  3. Your formula is a creative variation of the real one

    amount = 60000( (1 + .07/2)^50 - 1)/(.07/2)
    = 60000( 1.035^50 - 1)/.035
    =

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    posted by Reiny

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