Register
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?
30.0k views
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
4.7k points

1 Answer

4 votes

A = P(1 + rt)

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

A=24332.36

User Ariejan
by
5.2k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.3m questions

6.9m answers

Other Questions

Pizza planet is running a special 3 pizzas for 16.50. What is the unit rate for one pizza
What number is halfway between 0 and 18
If the 9-inch wheel of cheese costs $18.60, what is the cost per square inch? If the cost is less than a dollar, put a zero to the left of the decimal point?
how long Will it take for $7000 investment to grow to $7553 and the annual rate of 3.4% compounded quarterly assume that no withdrawals are made
I need to simplify this expression.
Link Copied!