SOLUTION: Please help Calculate the compound amount. Use the compound amount formula and a calculator. (Round your answer to two decimal places.) P = $1400, r = 9% compounded semiannuall

Algebra ->  Probability-and-statistics -> SOLUTION: Please help Calculate the compound amount. Use the compound amount formula and a calculator. (Round your answer to two decimal places.) P = $1400, r = 9% compounded semiannuall      Log On


   

Question 1057990: Please help
Calculate the compound amount. Use the compound amount formula and a calculator. (Round your answer to two decimal places.)
P = $1400, r = 9% compounded semiannually, t = 14 years
Answer by josgarithmetic(39625) About Me  (Show Source):
You can put this solution on YOUR website!
Semiannually for 14 years means r%2F2 percentage rate done 28 times.

1400%2A1.045%5E28, the new balance at the end of 14 years.
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That is the needed expression and you must understand it. Now compute the value.