SOLUTION: f $10,000 is invested at 2 percent semi-annually for 5 years, what is the amount at the end of the term?

Question 747230: f $10,000 is invested at 2 percent semi-annually for 5 years, what is the amount at the end of the term?

Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
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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***** If you mean 2% per year compounded semi-anually you'll have to say that.
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Do it like this one:
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If $10,000 is invested at 2 percent monthly for 5 years, what is the amount at the end of the term?
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FV = PV*(1 + r)^t
r = 2% = 0.02 per month
t = 60 months
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FV = 10000*(1.02)^60
FV = $32810.38

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