Question
12,000 is compounded semiannually at a rate of % for 20 yrs
Answers
Henry
APR = 6%?.
P = Po(1+r)^n.
Po = 12,000 = Initial investment.
r = 0.06/2 = 0.03 = Semi-annual % rate expressed as a decimal.
n = 2comp./yr. * 20yrs. = 40 Compounding periods.
P = Po(1+r)^n.
Po = 12,000 = Initial investment.
r = 0.06/2 = 0.03 = Semi-annual % rate expressed as a decimal.
n = 2comp./yr. * 20yrs. = 40 Compounding periods.