SOLUTION: If $33000 is invested at an interest rate of 6 percent per year, compounded semi-annually, find the value of the investment after the given number of years. Each answer should be c

SOLUTION: If $33000 is invested at an interest rate of 6 percent per year, compounded semi-annually, find the value of the investment after the given number of years. Each answer should be c

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Question 690428: If $33000 is invested at an interest rate of 6 percent per year, compounded semi-annually, find the value of the investment after the given number of years. Each answer should be correct to the nearest penny.
1. 5 years
2. 10 years
3. 15 years
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
1)
A=33000(1.03)^5*2
A=33000(1.34391)
A=$44,349.03
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