If you invest $20,500 in an account yielding 4.95% interest compounded semi-annually. How much will be in the account after 10 years?

Question

If you invest $20,500 in an account yielding 4.95% interest compounded semi-annually. How much will be in the account after 10 years?

in progress 0
Tryphena 3 years 2021-07-25T13:04:19+00:00 2 Answers 4 views 0

Answers ( )

  1. Maris
    0
    2021-07-25T13:05:40+00:00
    Reply

    Answer:

    In 10 years you would have saved $33,428.15.

    Explanation:

    A=P (1+ r/n)^nt

    A = The final amount

    P = The intial principal balance: $20,500

    R = The interest rate: 4.95%

    N = The number of times interest is applied per period: Semi annually (1.5)

    T= The time periods elapsed: 10 years

    A = 20,500 (1+4.95/1.5)^(1.5•10)

  2. Eirian
    0
    2021-07-25T13:05:55+00:00
    Reply

    Answer: 33428.15.

    Step-by-step explanation:

Leave an answer

Browse

Giải phương trình 1 ẩn: x + 2 - 2(x + 1) = -x . Hỏi x = ? ( )