Asked by lina
rigoberto invests 8,000 at 6% interest, compound semiannually for 1 year
Answers
Answered by
MathMate
You can solve using the compound interest formula:
Fv = Pv * (1+i)^n
Fv=future value, to be calculated
Pv=Present value ($8000)
i=interest per period (6%/2=0.03)
n=number of periods (2)
Fv = Pv * (1+i)^n
Fv=future value, to be calculated
Pv=Present value ($8000)
i=interest per period (6%/2=0.03)
n=number of periods (2)
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