Question

Please help!!

A $15,000 deposit with a 4% interest rate compounded semi-annually for 10 years.

Answer 1

Answer: The total amount after 10 years is $19,945.76.

Explanation:

Formula:

A = P(1+r/n)nt

Calculation:

A = $15,000(1+4/2)2×10

A = $15,000(1.02)20

A = $15,000(1.4242)

A = $21,363.00