Question
You deposit $9,000 in an account earning 5.5% interest compounded semiannually. How much will you have in the account after 10 years?
(Note: Use n=12 for monthly compounding, n=4 for quarterly compounding, n=2 for semiannual compounding, and n=1 for annual compounding.)
$15483.855
(Note: Use n=12 for monthly compounding, n=4 for quarterly compounding, n=2 for semiannual compounding, and n=1 for annual compounding.)
$15483.855
Answers
bobpursley
correct.