SOLUTION: I have a principal of $50,000 with an interest rate of 6% compounded semi-annually. How much money will I have after 6 years

Algebra ->  Equations -> SOLUTION: I have a principal of $50,000 with an interest rate of 6% compounded semi-annually. How much money will I have after 6 years      Log On


   

Question 286965: I have a principal of $50,000 with an interest rate of 6% compounded semi-annually. How much money will I have after 6 years
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
50,000(1+.06/2)^6*2
50,000*1.03^12
50,000*1.42576=$71,288.04 ans.