SOLUTION: $1,400 principal earning 6%, compounded semi-annually, after 10 years

SOLUTION: $1,400 principal earning 6%, compounded semi-annually, after 10 years

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Question 627011: $1,400 principal earning 6%, compounded semi-annually, after 10 years

Answer by unlockmath(1688) (Show Source): You can put this solution on YOUR website!
Hello,
The formula to use is:
A=P(1+r/n)^nt
Plug in the values:
A=1400(1+.06/2)^2(10)
A=$2528.56 (rounded off)
Make sense?
RJ
www.math-unlock.com
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