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A $6,000 principal earns 8% interest, compounded semiannually twice per year. after 35 years, what is the balance of the account

A $6,000 principal earns 8% interest, compounded semiannually twice per year. after 35 years, what is the balance of the account
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A $6,000 principal earns 8% interest, compounded semiannually twice per year. after 35 years, what is the balance of the account

asked
User Michele Carino
by
7.9k points

1 Answer

5 votes
A=6,000×(1+0.08÷2)^(2×35)
A=93,429.71
answered
User Max DeLiso
by
7.6k points
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