document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1184514>Question 1184514</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Find the total amount of money received if Tshs 800000 is deposited in a bank at the rate of 9% compounded semi annually in one year </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #815122 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=815122\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> the interest rate is 9% per year compounded semi-annually.<BR>\n" );
document.write( "divide 9% by 2 to get 4.5% every semi-annual period.<BR>\n" );
document.write( "800,000 * 1.045 ^ 2 = 873,620.<BR>\n" );
document.write( "her nominal interest rate per year was 9%.<BR>\n" );
document.write( "her effective interest rate per year was 1.045 ^ 2 = 1.092025 - 1 = .092025 * 100 = 9.2025%.<BR>\n" );
document.write( "873620 / 800000 = 1.092025 - 1 = .092025 * 100 = 9.2025%.<BR>\n" );
document.write( "your solution is 873,620.<BR>\n" );
document.write( "that's how much she will have at the end of the year after investing 800000 at 9% compounded semi-annually for that one year.\r<BR>\n" );
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