Register

Suppose that $2000 is loaned at a rate of 18%, compounded semiannually. Assuming that no payments are made, find the amount owed after 9 years. Do not round any intermediate com…

Suppose that $2000 is loaned at a rate of 18%, compounded semiannually. Assuming that no payments are made, find the amount owed after 9 years. Do not round any intermediate com…
141k views
5 votes
Suppose that $2000 is loaned at a rate of 18%, compounded semiannually. Assuming that no payments are made, find the amount owed after 9 years.

Do not round any intermediate computations, and round your answer to the nearest cent.

User Soccerplayer
by
8.3k points

1 Answer

5 votes
The answer to this problem is A=P(1+r/n)^(nt)
User Ancho
by
9.3k points
← Prev Question Next Question →

Related questions

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

9.4m questions

12.2m answers

Other Questions

How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Write words to match the expression. 24- ( 6+3)
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Mr. Jacob is 55 years old and tony is 7 years old. in how many years will mr. Jacobs be 4 times as old as Tony
Link Copied!