SOLUTION: what is the accumulated amount at the end of 8 years if 5,500 is invested at an interest rate of 6% compounded semiannually?

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Question 845575: what is the accumulated amount at the end of 8 years if 5,500 is invested at an interest rate of 6% compounded semiannually?

Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
 
Hi,
In General
A = Accumulated Amount
P= principal = 5500
r= annual rate = .06
n= periods per year = 2
t= years =8


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