$20,000 at 4% compounded semiannually for 12 years

label Accounting
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

A)$32,168.80   B)$29,600.00   C)$25,364.84   D)$32,020.64

Jun 25th, 2015

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Jun 25th, 2015


Answer: option     A) $32,168.80

P = $20,000

r = 4% = 0.04

t = 12

n= 2

Amount = P[1+ (r/n)^nt

=20000 [1+ (4/2)^2*12]

=20000 X (1.02)^24

=32,168.74499

= $32,168.80 (rounded to two decimel)

Jun 25th, 2015

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