SOLUTION: Use the compound interest formula A = P * (1 + r/n) ^ (nt) If $10,000 is invested at 2 percent semi-annually for 5 years, what is the amount at the end of the term?

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Question 1176226: Use the compound interest formula A = P * (1 + r/n) ^ (nt) If $10,000 is invested at 2 percent semi-annually for 5 years, what is the amount at the end of the term?
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!

Hi
A = P * (1 + r/n) ^ (nt)
 A = 10000(1 + .02/2)^10 = $11,046.22 rounded to nearest cent

Wish You the Best in your Studies.


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