SOLUTION: Suppose that $2000 is invested at a rate of 5% , compounded semiannually. Assuming that no withdrawals are made, find the total amount after 5 years.

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Question 1085122: Suppose that
$2000
is invested at a rate of
5%
, compounded semiannually. Assuming that no withdrawals are made, find the total amount after
5
years.
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
2000(1+.05/2)^10; divide the interest by 2 add it to 1, and raise it to the number of compoundings/yr *yr.=$2560.17