Question
find the accumulated value of an investment of $2000 at 8% compounded semiannually for 9 years.
Use formula A=P[1+(r)(n)^nt
Use formula A=P[1+(r)(n)^nt
Answers
Damon
hmm, what else would I use?
r = .04 per half year
n = 18 half years
so
A = 2000 [1.04^18] = 2000*2.02 = $4051.63
we more than doubled our money - good move.
r = .04 per half year
n = 18 half years
so
A = 2000 [1.04^18] = 2000*2.02 = $4051.63
we more than doubled our money - good move.