Register
2) Jack invests $4,325 in a savings account with a fixed annual interest rate of 7% compounded semi-annually. What will the account balance be after 7 years?
204k views
24 votes
2) Jack invests $4,325 in a savings account with a fixed annual interest rate of 7%

compounded semi-annually. What will the account balance be after 7 years?

User Gintautas
by
5.0k points

1 Answer

9 votes

Answer:

A=P(1+r/200)^2n

=4325(1+7/200)^14

=4325*1.61869452

=7000

User Enith
by
4.6k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.6m questions

7.3m answers

Other Questions

What is the value of x? (-4) - x = 5
1/7 + 3/14 equivalent fractions
185g in the ratio 2:3
(3x1,000,000)+(3x100,000)+(2x100) what is this number written in standard form?
The function h = -t2 + 95 models the path of a ball thrown by a boy where h represents height, in feet, and t represents the time, in seconds, that the ball is in the air. Assuming the boy lives at sea
Link Copied!