document.write( "Question 968013: If $10,000 is invested at an interest rate of 2% per year, compounded semiannually, find the value of the investment after the given number of years. (Round your answers to the nearest cent.)\r
\n" ); document.write( "\n" ); document.write( "a)6 years
\n" ); document.write( "b)12 years
\n" ); document.write( "c)18 years \n" ); document.write( "
Algebra.Com's Answer #591644 by lwsshak3(11628)\"\" \"About 
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If $10,000 is invested at an interest rate of 2% per year, compounded semiannually, find the value of the investment after the given number of years. (Round your answers to the nearest cent.)
\n" ); document.write( "a)6 years
\n" ); document.write( "b)12 years
\n" ); document.write( "c)18 years
\n" ); document.write( "***
\n" ); document.write( "compound interest formula: A=P(1+r/n)^nt, P=initial investment, r=interest rate, n=number of compounding periods per year, A=amt after t-years.
\n" ); document.write( "For given problem:
\n" ); document.write( "P=10000
\n" ); document.write( "r=.02
\n" ); document.write( "n=2
\n" ); document.write( "t=6, 12, 18
\n" ); document.write( "..
\n" ); document.write( "A(6)=10000(1+.02/2)^2*6
\n" ); document.write( "A(6)=10000(1.01)^12=11,268.25
\n" ); document.write( "A(12)=10000(1.01)^24=12,697.35
\n" ); document.write( "A(18)=10000(1.01)^36=14,307.69
\n" ); document.write( " \n" ); document.write( "
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