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Lea invests $8,333 in a savings account with a fixed annual interest rate of 8% compounded 2 times per year.what will be the balance after 12 years?

Lea invests $8,333 in a savings account with a fixed annual interest rate of 8% compounded 2 times per year.what will be the balance after 12 years?
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1 vote
Lea invests $8,333 in a savings account with a fixed annual interest rate of 8% compounded 2 times per year.what will be the balance after 12 years?

User Lini Sax
by
8.2k points

1 Answer

4 votes

A = P(1 + rt)

A= 8,333(1+.08*24)

A=24332.36

User Ariejan
by
7.9k points
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