SOLUTION: The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate
Prinicpal: $10,000 Rate: 7% Compounded: semiannually Ti
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Question 1175021: The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate
Prinicpal: $10,000 Rate: 7% Compounded: semiannually Time: 2 years
A. Find how much money there will be in the account after the given number of years
B. Find the interest earned
Answer by MathLover1(20849) (Show Source): You can put this solution on YOUR website!
The formula for compound interest is :
given:
% =>
(semiannually)
years
A. Find how much money there will be in the account after the given number of years.
B. Find the interest earned.
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