SOLUTION: Please show your work: \$2,350 is invested in account paying 9% compounded semiannually. How much will the account be worth after 8 years? Show your work.

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 Click here to see ALL problems on Finance Question 205767: Please show your work: \$2,350 is invested in account paying 9% compounded semiannually. How much will the account be worth after 8 years? Show your work. Found 2 solutions by Alan3354, rfer:Answer by Alan3354(30993)   (Show Source): You can put this solution on YOUR website!\$2,350 is invested in account paying 9% compounded semiannually. How much will the account be worth after 8 years? ---------- 8 yrs semi-annually = 16 periods r = 0.09/2 = 0.045 FV = \$2350*(1.045)^16 FV = \$2350*2.02237 FV = \$4752.57 Answer by rfer(12654)   (Show Source): You can put this solution on YOUR website!A=P(1+r/n)^nt A=2350(1+.045)^16 A=2350(2.02237) A=\$4752.57 n=number of compunding periods per year t=number of years r=interest rate