SOLUTION: You deposit $300 in an account earning 8% compound interest for 3 years. Find the future value and the interest earned for the following compounding frequency. Semiannually: FV: 38

Question 1183131: You deposit $300 in an account earning 8% compound interest for 3 years. Find the future value and the interest earned for the following compounding frequency. Semiannually: FV: 380.77 Interest earned: ?
Answer by ikleyn(52915) (Show Source): You can put this solution on YOUR website!
.


FV =  =  = 379.60  dollars.    ANSWER


Interest earned = $379.60 - $300 = $79.60.     ANSWER

Solved.

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To see many other similar (and different) solved problems on compounded interest accounts, look into the lesson
- Compounded interest percentage problems
in this site.

Learn the subject from there.

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