SOLUTION: 10% interest is paid on $16,500 compounded semi-annually. What will the amount be at the end of 5 years?

SOLUTION: 10% interest is paid on $16,500 compounded semi-annually. What will the amount be at the end of 5 years?

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Question 224631: 10% interest is paid on $16,500 compounded semi-annually. What will the amount be at the end of 5 years?
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
16,500(1+.10/2)^5*2
16,500(1+.05)^10
16,500(1.05)^10
16,500*1.629=$26,876.76 ans.

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