# math

\$18,500 at 4.5% compounded semiannually for 5 years

asked by john
1. 18500 * (1 + .045/2)^10

posted by Damon
2. \$18,500 at 4.5% compounded semiannually for 5 years

A(t) = P(1 + r/n)^nt
A(5) = 18500(1 + 0.045/2)^(2(5))
A(5) = 18500(1 + 0.0225)^10
A(5) = 18500(1.0225)^10
A(5) = 18500(1.24920)
A(5) = 23110.26 interest

18,500 + I = total value after 5 yrs

posted by helper
3. I think A(5) is the total value.

posted by Damon
4. Yes, Damon is right.

A(5) is the total value.

I meant to put,
\$18,500 + 4610.26 Interest = \$23,110.26
after 5 years

posted by helper

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