SOLUTION: Antonio invests $3,000, at 10% interest, compounded semiannually for 12 years. Use the compound interest formula to calculate the compound amount for his investment.
a. $6,760.0
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Question 977774: Antonio invests $3,000, at 10% interest, compounded semiannually for 12 years. Use the compound interest formula to calculate the compound amount for his investment.
a. $6,760.00
b. $6,663.28
c. $9,860.00
d. $9,675.30
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=3000(1+0.10/2)^(12*2)
FV=3000(1.05)^24
FV=9675.30
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