Register
If you were to deposit $1,000 into an account that paid 10 percent interest compounded semiannually, how much money would you have in the account one year from now?
113k views
23 votes
If you were to deposit $1,000 into an account that paid 10 percent interest compounded semiannually, how much money would you have in the account one year from now?

User Alex Dzeiko
by
3.2k points

1 Answer

6 votes
Semiannual means there will be two total periods in a year. Divide ten percent by two to get the interest rate per period. Then multiple by 1+i twice
If you were to deposit $1,000 into an account that paid 10 percent interest compounded-example-1
User Utarid
by
3.7k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

3.5m questions

4.4m answers

Other Questions

A study was completed in Florida. In southern Florida, the study involved 3,000 patients; 54% of them experienced flulike symptoms during the same month. The study had a margin of error of 1.8%. What does
Solve for x in the equation 3 x squared minus 18 x + 5 = 47. (I need this to be an answer like X=3+\_ square root 23)
Can someone help me plz I have to Turn 27/9 in simplest
The sanchez family goes out for dinner, and the price of the meals is $60. The sales tax on the Meals is 7 percent, and they also want to leave a 15 percent tip. What is the total cost of the meal? Analyze
Simplify: 10 ÷ [(5 + 2) − 5]
Link Copied!