SOLUTION: what is the amount of compound interest on 6,000.00 invested for two years at 9% compounded semiannualy
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Question 231913: what is the amount of compound interest on 6,000.00 invested for two years at 9% compounded semiannualy
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
P(1+R/N)^TN R=RATE, N=THE NUMBER OF PERIODS PER YEAR, T=NUMBER OF YEARS.
6,000(1+.09/2)^2*2=6,000(1.045)^4=6,000*1.1925=$7,155.11 ANS.
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