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You deposit $1050 into an account that pays 7.25% interest per year. find the amount after six year given the following: a) compounded semiannually b) compounded monthly

You deposit $1050 into an account that pays 7.25% interest per year. find the amount after six year given the following: a) compounded semiannually b) compounded monthly
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you deposit $1050 into an account that pays 7.25% interest per year. find the amount after six year given the following: a) compounded semiannually b) compounded monthly

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User Vlad Nicula
by
8.7k points

1 Answer

3 votes

Answer:

semiannually = $1609.77

monthly = $1128.71

Explanation:

answered
User Csblo
by
7.2k points
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