roemello57 roemello57
  • 03-12-2018
  • Mathematics
contestada

1500/semiannual period for 6 years at 2.5%/year compounded semiannually

Respuesta :

jdoe0001 jdoe0001
  • 03-12-2018

[tex]\bf ~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$1500\\ r=rate\to 2.5\%\to \frac{2.5}{100}\dotfill &0.025\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{semiannual, thus twice} \end{array}\dotfill &2\\ t=years\dotfill &6 \end{cases} \\\\\\ A=1500\left(1+\frac{0.025}{2}\right)^{2\cdot 6}\implies A=1500(1.0125)^{12}\implies A\approx 1741.13[/tex]

Answer Link

Otras preguntas

Mark the statement if it describes the legend of Romulus and Remus. A. Two brothers, Romulus and Remus, founded Rome. B. Romulus was building the wall of a city
During the 1800s, nativists promoted the idea that immigrants contributed to unemployment by
Which of the following cellular materials is solely composed of DNA and proteins? Golgi complex mitochondria ribosomes chromosomes
Which line of poetry is written in iambic pentameter?
$65 digital camera marked up 50%
which continent borders Africa to the northeast
If Jordan buys a big drum and the diameter of a drum circle is 12 feet what is the area of the drum ??
How might the destruction of vegetation affect the animal life in an area?
who argued that gradual geological processes have gradually shaped earths surface
why are comets visible only when they are near the sun?