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$1400 principal annual earning 6% compound semiannually, after 10 years

$1400 principal annual earning 6% compound semiannually, after 10 years
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1 vote
$1400 principal annual earning 6% compound semiannually, after 10 years

User Kgryte
by
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1 Answer

5 votes
The formula to use is:
A=P(1+r/n)^nt
Plug in the values:
A=1400(1+.06/2)^2(10)
A=$2528.56 (rounded off)
Make sense?
User Yumick Gharti
by
7.7k points
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