Asked by Ms. Sue
This was originally posted on another student's thread.
Suppose that $2000 is loaned at a rate of 19% ,compounded semiannually.
Assuming that no payments are made, find the amount owed after 5 years . Do not round any intermediate computations, and round your answer to the nearest cent.
0 0
posted by Natasha
today at 12:43pm
Suppose that $2000 is loaned at a rate of 19% ,compounded semiannually.
Assuming that no payments are made, find the amount owed after 5 years . Do not round any intermediate computations, and round your answer to the nearest cent.
0 0
posted by Natasha
today at 12:43pm
Answers
Answered by
oobleck
just use your formula.
2000(1 + .19/2)^(2*5)
2000(1 + .19/2)^(2*5)
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