SOLUTION: $2,350 is invested in account paying 9% compounded semiannually. How much will the account be worth after 8 years? Show your work. thankyou

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Question 585378: $2,350 is invested in account paying 9% compounded semiannually. How much will the account be worth after 8 years? Show your work.
thankyou
Answer by jim_thompson5910(35256) About Me  (Show Source):
You can put this solution on YOUR website!
A=P%281%2Br%2Fn%29%5E%28n%2At%29


A=2350%281%2B0.09%2F2%29%5E%282%2A8%29


A=2350%281%2B0.045%29%5E%282%2A8%29


A=2350%281.045%29%5E%282%2A8%29


A=2350%281.045%29%5E%2816%29


A=2350%282.02237015303025%29


A=4752.5698596211


A=4752.57


So there will be $4752.57 in the account.
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