Question 138401
THE FORMULA FOR THIS PROBLEM IS:
P(1+R/N)^A*N WHERE P=PRINCIPLE, R=ANNUAL RATE, N=NUMBER OF INTEREST PERIOD & A=THE NUMBER OF YEARS.
2,200(1+.12/2)^2*2
2,200(1+.06)^4
2,200(1.06)^4
2,200*1.26
$2,816 ANSWER FOR THE VALUE OF THE INVESTMENT AFTER 2 YEARS.