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fatima opened a saving account with $7,500. she decided to deposit that same amount semiannually this account earns 3.975% interest compounded semiannually what is the future value of the account after
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Apr 23, 2022
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fatima opened a saving account with $7,500. she decided to deposit that same amount semiannually this account earns 3.975% interest compounded semiannually what is the future value of the account after 10 years
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Ben Ziegler
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I would use the formula
Initial x multiplier^time
So the initial is 7,500, the multiplier will be 1.03975 and then it would be to the power of 10 (time).
7500 x 1.03975^10 = $11,075.17
Bert
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Apr 29, 2022
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