Antonio invests 3000 at .10 interest compounded semianually for 12 years. Use the compound interest formula to calculate the compound amount for his investment

Question

asked Dec 20, 2021 123k views

1 Answer

Maxim Demkin · Answer 1 · 2021-12-25T22:17:46+0000

Answer:

A=9675.299

Explanation:

A=p(1+r)^t

A compound amount

P is the principle amount invested

r : rate ( semiannually is 0.5 )

t=years ( semiannually 12*2=24)

A=3000(1+0.10/2)^24

A=9675.299