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Sam Monte deposits $21,500 into Legal Bank which pays 6 percent interest that is compounded semiannually. What will Sam have in his account at the end of 6 years?

Sam Monte deposits $21,500 into Legal Bank which pays 6 percent interest that is compounded semiannually. What will Sam have in his account at the end of 6 years?
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Sam Monte deposits $21,500 into Legal Bank which pays 6 percent interest that is compounded semiannually. What will Sam have in his account at the end of 6 years?

User Aaviya
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1 Answer

1 vote

=P(1+r)twhere P is the principal, r is the rate (over the compounding period, expressed as a decimal), and t is the number of periods to compound over.
its A=P(1+/n)^nt
User PatrikAkerstrand
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