Asked by chinyere
A man save 55,000 in a saving account which pays compound interest semi annuals at the rate of 6% per annum .
a.What will be the amount in his account after 12 years
a.What will be the amount in his account after 12 years
Answers
Answered by
Damon
24 half year periods at 3% each period
so
55,000 (1.03)^24
so
55,000 (1.03)^24
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.