SOLUTION: if I invest $5000 at 10% compounded Semi annually how much will I have at the end of 7 yrs?

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Question 859496: if I invest $5000 at 10% compounded Semi annually how much will I have at the end of 7 yrs?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi,

 In General A%28t%29+=+P%281%2Br%2Fn%29%5E%28nt%29

A = Accumulated Amount

P= principal = $5000

r= annual rate = .10

n= periods per year = 2 

t= years = 7

A%28t%29+=+5000%281.05%29%5E%2814%29= $9899.66  (rounded to the nearest penny)