# SOLUTION: If \$20,000 is invested at 4% compound semiannually, how much is present at the end of 15 years? Round your answer to the nearest lowest dollar. Thanks in advance :)

Algebra ->  Algebra  -> Logarithm Solvers, Trainers and Word Problems -> SOLUTION: If \$20,000 is invested at 4% compound semiannually, how much is present at the end of 15 years? Round your answer to the nearest lowest dollar. Thanks in advance :)      Log On

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 Click here to see ALL problems on logarithm Question 387364: If \$20,000 is invested at 4% compound semiannually, how much is present at the end of 15 years? Round your answer to the nearest lowest dollar. Thanks in advance :)Answer by stanbon(57361)   (Show Source): You can put this solution on YOUR website!If \$20,000 is invested at 4% compound semiannually, how much is present at the end of 15 years? Round your answer to the nearest lowest dollar. ----------------- A(t) = P(1+(r/n))^(nt) ----- A(15) = 20,000*(1+(0.04/2))^(2*15) -- A(15) = 20,000*(1.02)^30 A(15) = 20,000*1.811362 ---- A(15) = \$36227.23 ====================== Cheers, Stan H. ==============