SOLUTION: A- A man deposits $ 29,700 into a bank, which pays 4% interest that is compounded semiannually. What will he have in his account at the end of three years?

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Question 1162471: A- A man deposits $ 29,700 into a bank, which pays 4% interest that is compounded semiannually. What will he have in his account at the end of three years?
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!




Where is Future Value, is present value, is the interest rate as a decimal, is the number of compounding periods per year, and is the number of years.

Plug in your numbers and do the arithmetic (or punch the calculator buttons).


John

My calculator said it, I believe it, that settles it