SOLUTION: Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t yr. (Round your answer to the nearest cent.) P = $1000, r = 4%, t = 9.5, compo

Question 507851: Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t yr. (Round your answer to the nearest cent.)
P = $1000, r = 4%, t = 9.5, compounded semiannually

A = $?
Answer by Earlsdon(6294) (Show Source): You can put this solution on YOUR website!
Where: P = $1,000, r = 0.04, t = 9.5, and q (the compounding period) = 2. (two times a year or semiannually)
Evaluate using your calculator.

A = $1,456.81
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