Question

suppose that $2,000 is loaned at a rate of 18.5% compounded semi-annually assume that no payments are made find the amount after 3 years​

Answer 1

Answer: 2000(1+0.185/2)to the power of 3/2

= $2283.82

Step-by-step explanation: compounded interest is A= P(1 +r) the to power of N

So assuming semi annually means twice a year

2000(1+0.185/2)to the power of 3/2