document.write( "Question 1197289: What is the Final Amount if P 12400 is invested at an interest of 8% compounded Bi-Monthly for 8
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Algebra.Com's Answer #830508 by MathLover1(20850)\"\" \"About 
You can put this solution on YOUR website!
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\n" ); document.write( "\n" ); document.write( "First, convert \"R\" as a percent to \"r+\"as a decimal
\n" ); document.write( "\"r+=+R%2F100\"
\n" ); document.write( "\"r+=+8%2F100\"
\n" ); document.write( "\"r+=+0.08\" per year, bi-monthly ->\"n=6\" times in year\r
\n" ); document.write( "\n" ); document.write( "\"A+=+P%281+%2B+r%2Fn%29%5E%28nt%29\"\r
\n" ); document.write( "\n" ); document.write( "\"A=+12400%281+%2B+0.08%2F6%29%5E%286%2A8%29\"\r
\n" ); document.write( "\n" ); document.write( "\"A=+12400%281+%2B+0.013333333333333332%29%5E48\"\r
\n" ); document.write( "\n" ); document.write( "\"A=+12400%281.013333333333333332%29%5E48\"\r
\n" ); document.write( "\n" ); document.write( "\"A=+12400%281.8884773774741%29\"\r
\n" ); document.write( "\n" ); document.write( "\"A=23417.12\"=>the Final Amount\r
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