Suppose that 2000 is loaned at a rate of 9% , compounded semiannually. Assuming that no payments are made, find the amount owed after 10 years.

Answer 1

Amount = 2000(1.045)^20
=

Answer 2

2000x1.66x9
=18000x166/100
=1380+2000
=(3380)x10
=33800

Answer 3

Amount = 2000(1.045)^20
= $4823.43