SOLUTION: Brian invests $15,500, at 8% interest, compounded semiannually for 2 years. Manually calculate the compound amount (in $) for his investment.

SOLUTION: Brian invests $15,500, at 8% interest, compounded semiannually for 2 years. Manually calculate the compound amount (in $) for his investment.

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Question 1172570: Brian invests $15,500, at 8% interest, compounded semiannually for 2 years. Manually calculate the compound amount (in $) for his investment.
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
P=Po(1+(r/n)^nt, n number of periods compounded per year; t=number of years.
P=$15,500(1+.04)^4
=$18132.81, round at the end.
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