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A 6,000.00 principal earns 8% interest, compounded semiannually twice per year after 35 years what is it

A 6,000.00 principal earns 8% interest, compounded semiannually twice per year after 35 years what is it
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5 votes
A 6,000.00 principal earns 8% interest, compounded semiannually twice per year after 35 years what is it

User Tudor Zgureanu
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1 Answer

5 votes
A=p (1+r/k)^kn
A future value
P present value 6000
R interest rate 0.08
K compounded semiannual 2
N time 35years

A=6,000×(1+0.08÷2)^(2×35)
A=93,429.71
User Ryan Watkins
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8.0k points
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