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Find the amount accumulated after investing a principle P for t years and an interest rate compounded twice a year. P = $100 r = 3% t = 5 k=2 Hint: A = P(1 + E) kt A = $[?]
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Find the amount accumulated after

investing a principle P for t years and an
interest rate compounded twice a year.
P = $100 r = 3% t = 5
k=2
Hint: A = P(1 + E) kt
A = $[?]

Find the amount accumulated after investing a principle P for t years and an interest-example-1
User Hunkpapa
by
8.9k points

1 Answer

3 votes

Answer:

A= $116.05

Explanation:

A=P(1+E)kt

A=100(1+0.03/2)^10

A= $116.05

User Jablonski
by
9.1k points
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