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Compute the total amount accumulated if you invested $850 for 4 years at 2.4% compounded
semiannually. Round your answer to the nearest cent and include '

Respuesta :

sqdancefan

9514 1404 393

Answer:

  $935.11

Step-by-step explanation:

The amount is given by the formula ...

  A = P(1 +r/n)^(nt) . . . P invested at rate r for t years compounded n per year

  A = $850(1 +0.024/2)^(2·4) = $935.11

The amount accumulated will be $935.11 after 4 years.

in your response.

Respuesta :

sqdancefan

9514 1404 393

Answer:

  $935.11

Step-by-step explanation:

The amount is given by the formula ...

  A = P(1 +r/n)^(nt) . . . P invested at rate r for t years compounded n per year

  A = $850(1 +0.024/2)^(2·4) = $935.11

The amount accumulated will be $935.11 after 4 years.

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