# 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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3. 👁 65

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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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