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Find the balance in the account. $1,400 principal earning 6%, compounded semi-annually, after 10 years
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Find the balance in the account. $1,400 principal earning 6%, compounded semi-annually, after 10 years

User Rnbguy
by
8.1k points

2 Answers

3 votes

Answer:

$2528.56

Explanation:

User Jaskirat
by
7.2k points
4 votes
A=P(1+r/n)^nt
Plug in the values:
P=1400, r=6/100=0.6,
n=2 and t=10
A=1400(1+.06/2)^2(10)
A=$2528.56
User Alex Stanovsky
by
8.1k points
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