SOLUTION: Use the compound interest formula A = P * (1 + r/n) ^ (nt) If $10,000 is invested at 2 percent semi-annually for 5 years, what is the amount at the end of the term?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Use the compound interest formula A = P * (1 + r/n) ^ (nt) If $10,000 is invested at 2 percent semi-annually for 5 years, what is the amount at the end of the term?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 1176226: Use the compound interest formula A = P * (1 + r/n) ^ (nt) If $10,000 is invested at 2 percent semi-annually for 5 years, what is the amount at the end of the term?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!

Hi
A = P * (1 + r/n) ^ (nt)
 A = 10000(1 + .02/2)^10 = $11,046.22 rounded to nearest cent

Wish You the Best in your Studies.