Question

4. Vanessa invests $650 at 4%, compounded semi-annually. How much is her investment

worth in 6 years? (Make sure to have your givens and equation written)

Answer 1

How to calculate interest compounded semiannually

Add the nominal interest rate in decimal form to 1. The first order of operations is parentheses, and you start with the innermost one. ...

Solve step one to the power of how many compounding periods. ...

Subtract from step two. ...

Multiply step three by the principal amount.

Oct 4, 2021

Explanation: