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$1400 principal earning 6%, compounded semi-annually, after 10 years?

$1400 principal earning 6%, compounded semi-annually, after 10 years?
asked 120k views
2 votes
$1400 principal earning 6%, compounded semi-annually, after 10 years?

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User Hatched
by
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1 Answer

4 votes
Assuming future value of the principal is required.

P=1400
i=0.06/2=0.03
n=10*2=20
Future value
=P(1+i)^n
=1400(1.03)^30
=2528.56


answered
User Idigyourpast
by
7.6k points
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