Find the balance if $22000 is invested in an account with an 8% annual interest rate, compounded semi-annually for 15 years (round to the nearest penny)The balance will be $___

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Stefan Zvonar asked May 20, 2023

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Find the balance if $22000 is invested in an account with an 8% annual interest rate, compounded semi-annually for 15 years (round to the nearest penny)The balance will be $___

Find the balance if $22000 is invested in an account with an 8% annual interest rate-example-1

Mathematics
high-school

Stefan Zvonar asked May 20, 2023

by Stefan Zvonar

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A = 22000(1 + 0.08/2)^(15*2)

A = 71354,75

Yung Silva answered May 25, 2023

by Yung Silva

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