document.write( "Question 1138052: Find the amount in a savings account at the end of 8 years if the amount originally deposited is $9000 and the interest rate is 6.5% compounded semiannually. Round to the nearest cent. \n" ); document.write( "
Algebra.Com's Answer #755927 by greenestamps(13200)![]() ![]() You can put this solution on YOUR website! \n" ); document.write( "The 6.5% is an annual interest rate; when the value is compounded semiannually (twice a year), the money grows by half of the 6.5 percent twice a year. With an initial amount of $9000 and a period of 8 years, the value at the end will be \n" ); document.write( " \n" ); document.write( "Use a calculator.... \n" ); document.write( "(The answer is a bit over $15000....) \n" ); document.write( " |