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Finding the final amount in a world power problem on a compound interest

Finding the final amount in a world power problem on a compound interest
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3 votes
Finding the final amount in a world power problem on a compound interest

Finding the final amount in a world power problem on a compound interest-example-1
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User Kartikluke
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8.5k points

1 Answer

6 votes

Using the compound interest formula, we have:


FV=2000(1+(0.12)/(2))^(6\cdot2)
FV=2000(1.06)^(12)
FV\approx4024.39

answered
User TomDK
by
8.4k points
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