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$7,300 at 7% compounded semiannually for 3 years
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5 votes
$7,300 at 7% compounded semiannually for 3 years

User Ian Muir
by
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1 Answer

6 votes
P=7300
i=0.07/2 per period of 6 months = 0.035
n=3 years *2=6 periods
Future value (after 3 years)
F=P(1+i)^n
=7300(1+0.035)^6
=8973.56
User Levite
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8.4k points
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