document.write( "Question 1176319: A depositor opens a new savings account with $6000 at 7% compounded semiannually. At the beginning of year 5, an additional $5000 is deposited. At the end of six years, what is the balance in the account?\r
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Algebra.Com's Answer #802936 by ewatrrr(24785) $\"\"$ $\"About$

You can put this solution on YOUR website!

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document.write( "Hi\r\n" );
document.write( "  In General \r\n" );
document.write( "A = Accumulated Amount\r\n" );
document.write( "P= principal = \r\n" );
document.write( "r= annual rate = .07\r\n" );
document.write( "n= periods per year = 2\r\n" );
document.write( "t= years =\r\n" );
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document.write( "  = $8463.59\r\n" );
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document.write( "the 6th year:  = 14422.53\r\n" );
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document.write( "Total after 6 years = $22,886.12\r\n" );
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document.write( "Wish You the Best in your Studies.\r\n" );
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