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

Respond to this Question

First Name

Your Response

Similar Questions

  1. Business Math

    Lisa Richter deposited $5,000 at 4% compounded semiannually for three years. At the beginning of the fourth year, Lisa deposited $2,500. What would her balance be at the end of five years assuming she is still earning 4%
  2. Math

    $500 in 15 years at 8% annual interest compounded semiannually. P = $500 Time = 30 years Rate = 4% $500(1+.08/2)^(2*15) = $1621.70
  3. Math

    $500 in 15 years at 8% annual interest compounded semiannually.
  4. Finances and Math

    Can someone please help me solve these problems or help me find an easy formula?..No matter how many times I read or try calculating I can't get it please help me..I would really appreciate it thank you.. Calculate the future
  5. math

    Jim wants to deposit money in an account to save for a new stereo system in two years. He wants to have $4,000 available at the time. The following rates are available to him: 6.2% simple interest 6.1% compounded annually 5.58%
  6. Math

    Find the total investment and the interest earned when $2,500 is invested at 5% compounded semiannually for 3 years.
  7. Math

    If $37,500 is invested at 6.3% for 30 years, find the future value if the interest is compounded annually,semiannually, quarterly, monthly
  8. algebra

    If $32,500 is invested at 69% for 3 years find the future value if the interest is compounded the following ways. annually, semiannually, quarterly, monthly, daily, every minute (N-525,600) continuously, simple (not compounded.
  9. Algebra

    If $32,500 is invested at 69% for 3 years find the future value if the interest is compounded the following ways. annually, semiannually, quarterly, monthly, daily, every minute (N-525,600) continuously, simple (not compounded.
  10. math

    Semiannually deposits of $400 are made for 10 years into an annuity that pays 7% compounded semiannually

More Similar Questions