SOLUTION: Use the compund interest formulas A=P(1+r/n)^nt and A= Pe^rt to solve. Find the accumulated value of an investment of $13,000 at 8% compounded semiannually for 5 years. a.

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: Use the compund interest formulas A=P(1+r/n)^nt and A= Pe^rt to solve. Find the accumulated value of an investment of $13,000 at 8% compounded semiannually for 5 years. a.       Log On


   

Question 155838: Use the compund interest formulas A=P(1+r/n)^nt and A= Pe^rt to solve.
Find the accumulated value of an investment of $13,000 at 8% compounded semiannually for 5
years.
a. $15,816.49
b. $19,101.26
c. $18,200.00
d. $19,243.18
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Use the compund interest formulas A=P(1+r/n)^nt and A= Pe^rt to solve.
Find the accumulated value of an investment of $13,000 at 8% compounded semiannually for 5 years.
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A(5) = 13000(1+(0.08/2))^(2*5)
A(5) = $19243.18
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Cheers,
Stan H.
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a. $15,816.49
b. $19,101.26
c. $18,200.00
d. $19,243.18