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Suppose you win $40,000 in the lottery (after taxes). If you deposit this in a money market account earning 6% interest, compounded semi-annually, how much total money would you…

Suppose you win $40,000 in the lottery (after taxes). If you deposit this in a money market account earning 6% interest, compounded semi-annually, how much total money would you…
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Suppose you win $40,000 in the lottery (after taxes). If you deposit this in a money market account earning 6% interest, compounded semi-annually, how much total money would you have after 2 years?

asked
User Dan Berindei
by
8.1k points

1 Answer

5 votes

Answer:

I'm totally gonna have $49.600, in two years earn $9.600.

answered
User Zyo
by
8.5k points
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