Asked by shanice

25000 at 7% compounded semi anually for 10 years.
Answered by Damon
3.5 % twice a year, 20 periods

1.035^20 = 1.9898

1.9898*25000 = $ 49,744.72

rough check is 7% for ten years compounded is about double your money
Answered by Damon
That by the way is NOT simple interest. It is compound interest.
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