document.write( "Question 734836: APR 3.4%, interest is compounded semianually. With no additional deposits or withdrawals for a year, what will balance be after all interest is paid on the principal balance of $9700. I would really appreciate some help understanding this, thanks! \n" ); document.write( "

Algebra.Com's Answer #449433 by Edwin McCravy(20067) $\"\"$ $\"About$

You can put this solution on YOUR website!

\r\n" );
document.write( "\r\n" );
document.write( "The compound interest formula is\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Take out the  and put 9700 in its place:\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Take out the  and put 0.034 in its place:\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Take out the  and put 2 in its place (because the\r\n" );
document.write( "word \"semiannually\" means twice a year.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Take out the  and put 1 year in its place:\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "P = $10032.60\r\n" );
document.write( "\r\n" );
document.write( "Edwin

\n" ); document.write( "

\n" );