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

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asked Dec 13, 2018 214k views

1 Answer

Ryan Watkins · Answer 1 · 2018-12-20T06:46:42+0000

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

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

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