SOLUTION: How much money will you have after 4 years if you invest $2000 at an annual rate of 5% compounded semiannually

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Question 281013: How much money will you have after 4 years if you invest $2000 at an annual rate of 5% compounded semiannually

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
How much money will you have after 4 years if you invest $2000 at an annual rate of 5% compounded semiannually
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A(t) = P(1+(r/n))^(nt)
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A(4) = 2000(1+(0.05/2))^(2*4)
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A(4) = 2000*1.2184
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A(4) = $2436.81
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Cheers,
Stan H.