Asked by india
Use the compound interest formula to find the value of the investment after 5 years, compounded semiannually.
$1,000 at 6% annual interest
$1,000 at 6% annual interest
Answers
Answered by
PsyDAG
Value = Principal(1+rate)^years
Value = 1000(1+.06)^5
Solve for value.
Value = 1000(1+.06)^5
Solve for value.
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