I WILL GIVE BRAINLIEST PLEASE HELP 1. Melanie invested $12,200 at 4.8% interest compounded semiannually, and she wants to know h

Question

I WILL GIVE BRAINLIEST PLEASE HELP

1. Melanie invested $12,200 at 4.8% interest compounded semiannually, and she wants to know how much her investment will be worth in 8 years. (5 points: Part I – 1 point; Part II – 2 points; Part III – 1 point; Part IV – 1 point)
Part I: What is the periodic interest rate of Melanie’s investment?

Part II: How many compounding periods does Melanie’s investment offer in a year? How about in 8 years?

Part III: What expression can Melanie write to figure out how much her investment will be worth in 8 years?

Part IV: How much will Melanie’s investment be worth in 8 years?

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Calantha 3 years 2021-09-03T18:08:15+00:00 1 Answers 17 views 0

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  1. kimcuc
    0
    2021-09-03T18:10:11+00:00
    Reply

    Answer:

    Part I

    • 4.8% compounded semiannually means 4.8%/2 = 2.4% per 6 month period

    Part II

    • Period is 6 months, so 2 periods in a year and 2*8 = 16 periods in 8 years

    Part III

    • A = $12200*(1 + 0.024)^16

    Part IV

    • A = $12200*(1 + 0.024)^16 = $17830.32

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