document.write( "Question 968696: use the compound interest formula to determine the final value of the given amount. show work\r
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document.write( "$14,000 at 10% compounded semiannually for 4 years
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Algebra.Com's Answer #591918 by lwsshak3(11628)![]() ![]() ![]() You can put this solution on YOUR website! use the compound interest formula to determine the final value of the given amount. show work .$14,000 at 10% compounded semiannually for 4 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=14000 \n" ); document.write( "r=10% \n" ); document.write( "n=2 \n" ); document.write( "t=4 \n" ); document.write( "A=14000(1+.10/2)^2*4) \n" ); document.write( "A=14000(1+.05)^8 \n" ); document.write( "A=14000(1.05)^8 \n" ); document.write( "A=20,684.38 \n" ); document.write( "final value of the given amount≈$20,684 \n" ); document.write( " |