‚ÄčIf $10,000 is invested at an interest rate of 4% per year, compounded semiannua

Algebra
Tutor: None Selected Time limit: 1 Day

If $10,000 is invested at an interest rate of 4% per year, compounded semiannually, find the value of the investment after the given number of years. (Round your answers to the nearest cent.)

(a)     4 years
 

(b)     8 years
 

(c)     12 years
Mar 31st, 2015

Use the formula A = P*(1 + r/2)^(2n), P= 10000 is the principal, r = 4% is the yearly rate, n is the number of years

(a) $11716.59

(b) $13727.86

(c) $16084.37

Mar 31st, 2015

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Mar 31st, 2015
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Mar 31st, 2015
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