SOLUTION: A principal of $50,000 has been invested at an interest rate of 9 percent per year compounded semi annually. If the principal has been invested for 8 years, determine the compound

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Question 1164231: A principal of $50,000 has been invested at an interest rate of 9 percent per year compounded semi annually. If the principal has been invested for 8 years, determine the compound amount at the end of this period.
Answer by ikleyn(52765) About Me  (Show Source):
You can put this solution on YOUR website!
.

Future value = 50000%2A%281%2B0.09%2F2%29%5E%282%2A8%29 = 50000%2A1.045%5E16 = 101118.51  dollars.        ANSWER

Solved.

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For all details and explanations,  and to see many other similar solved problems,  look into these two lessons
    - Compound interest percentage problems
    - Problems on discretely compound accounts
in this site, and learn the entire subject from there.


After reading these lessons, you will tackle such problems on your own without asking for help from outside.

Also,  you have this free of charge online textbook in ALGEBRA-I in this site
    - ALGEBRA-I - YOUR ONLINE TEXTBOOK.

The referred lessons are the part of this online textbook under the topic "Logarithms".


Save the link to this online textbook together with its description

Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson

to your archive and use it when it is needed.


Happy learning (!)