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Find the total value of the investment after the time given: $36,000 at 13.7% compounded semiannually for 2 years

User Rekcs
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1 Answer

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A = P ( 1 + r/n ) ^ nt

P is the principle which is 36000

r is the rate which is 13.7 % or .137 in decimal form

n is the number of time per year, semi annual means 2 times per year

t is the time = 2

A = 36000( 1 + .137/2) ^ (2*2)

36000( 1 + .137/2) ^ (4)

User MOCKBA
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