Answered

From health tips to tech hacks, find it all on IDNLearn.com. Discover reliable and timely information on any topic from our network of experienced professionals.

if $6700is invested at 4.6%interest compounded semiannually how much will the investment be worth in 15 years?

Sagot :

Kate200468idn
[tex]4.6\%\ \ annually\ \ \rightarrow\ \ 2.3\%\ \ semiannually \\semiannually \ \ \ \ \rightarrow\ \ 30\ times\ the\ interest\ capitalization\\\\Sum=\$6700\cdot(1+ \frac{2.3}{100} )^{30}=\$6700\cdot1.023^{30}\approx\$13253.90[/tex]
Thank you for using this platform to share and learn. Keep asking and answering. We appreciate every contribution you make. IDNLearn.com has the solutions to your questions. Thanks for stopping by, and come back for more insightful information.