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What principal will amount to $3000 if invested at 3% interest compounded semiannually for 10 years? Please show the work of the problem

What principal will amount to $3000 if invested at 3% interest compounded semiannually for 10 years? Please show the work of the problem
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2 votes
What principal will amount to $3000 if invested at 3% interest compounded

semiannually for 10 years?


Please show the work of the problem

User Beautifull
by
7.5k points

1 Answer

2 votes

Answer: $2227.41

Explanation:

A = P(1 + r/n)^nt

User Fred Dubois
by
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