Find the total amount in the compound interest account. $7000 is compounded semiannually at a rate of 9% for 18 years. (Round to the nearest cent.)

JanMer asked Jan 10, 2022

410,576 views

30 votes

Find the total amount in the compound interest account.

$7000 is compounded semiannually at a rate of 9% for 18 years.
(Round to the nearest cent.)

JanMer asked Jan 10, 2022

2.8k points

Your comment on this question:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Email me at this address if my answer is selected or commented on:Email me if my answer is selected or commented on

Privacy: Your email address will only be used for sending these notifications.

24 votes

11340

9% of 7000 is 630 then just multiply 630x18 which equals to 11340

2.5k points

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

1.6m questions

2.0m answers