Asked by Tia

1. A 3,500.00 principal earns 3% interest, compounded semi annually. After 20 years, what is the balance in the account
A. 7,700.00
B. 4,713.99
C. 5,600.00
D. 6,349.06

2. A boat costs 92,000.00 and depreciates in value by 15% per year. How much will the boat be worth after 10 years?
A. 18,112.45
B. 78,200.00
C. 18,941.98
D. 69,000.00

If anyone could help that would be great.Thank you so much!
Answered by Steve
#1: 3500(1+.035/2)^(2*20)

#2: 92000*0.85^10
Answered by Tia
Thank you so much! I really appreciate it!
Answered by Tia
7005.59070115 That's the answer I am getting for number one...
Answered by Tia
18112.44519935 and that for the second one?
Answered by chloe
tia, you are correct. ( sry ik this is late )
Answered by jeff
thank you
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