tnttimmy9 tnttimmy9

03-12-2016
Mathematics

contestada

The interest on 6000 at 6% compounded semiannually for eight years is?

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KawaiiKalin KawaiiKalin

03-12-2016

it will be $3,628.20.

Answer Link

Mcawesom Mcawesom

03-12-2016

using the formula
I = P x R x T
100
where
I is interest
P is principal
R is rate
T is time in years
I = 6000 x 6 x 8
100
I = 2880
when compounded semi anually the interest will be multiplied by 2
2880 x 2
5760 is the answer

Answer Link

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