SOLUTION: If $10,000 is invested at an interest rate of 4% per year, compounded semiannually, find the value of the investment after the given number of years. (Round your answers to the nea

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: If $10,000 is invested at an interest rate of 4% per year, compounded semiannually, find the value of the investment after the given number of years. (Round your answers to the nea      Log On


   

Question 1170775: If $10,000 is invested at an interest rate of 4% per year, compounded semiannually, find the value of the investment after the given number of years. (Round your answers to the nearest cent.)
(a) 6 years
$

(b) 12 years
$

(c) 18 years
$

Answer by Solver92311(821) About Me  (Show Source):
You can put this solution on YOUR website!

The future value, , of a single investment, , for years, at percent compounded times per year is given by:



You can do your own arithmetic.

John

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

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