sheilao1125 sheilao1125

24-03-2024
Mathematics

contestada

$8333 in savings with fixed rate of 8% compounded 2 times a year how much will it be in 12 years

Respuesta :

jsimpson11000 jsimpson11000

24-03-2024

Answer:

Step-by-step explanation:

FV = PV ( 1 + i)^n

FV = Future Value = what the Q asks

PV = present value = 8333

i = decimal interest per compounding period = .08/2

n = periods = 12 x 2 = 24 periods

FV = $ 8333 ( 1 + .08/2)^24 = $ 21 360.01

Answer Link

Otras preguntas

Which of the following would not support Darwin's research leading to the theory of natural selection? vestigial structures are found in fossils of ancient a

What scientist looked closely at cork in 1663, seeing a structure similar to his room at the monastery, and called it a cell? A) Hans Janssen B) Robert Hooke C

What challenges did most american cities face in the 1980s?

How did Muslims build the successful Arab Empire?

a pair of pants with a marked price of $35.00 had a discount of 20%. how much is the discount?

Would it be possible for quadratic to have more than one factored form? Why or why not.

Hate math please help!?!!?!??

Where does the finch family go every christmas? what do the children get for christmas? what problem does aunt alexandra have with the way scout is growing up?

Ivanova has a healthcare plan with $25 co-pays to see doctors, $10 co-pays for prescription drugs, and an annual deductible of $1,500. In February she has a bro

Can someone solve this? No guessing! Explain very well! Make sure the answer is right!