Question 135134
Find the balance. 
$18,500 at the 9% compounded semiannually for 5 years
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semi-annual is twice a year so n=2
Formula : A(t) = P(1+ (r/n))^(nt)
A(5) = 18,500(1+ (0.09/2))^(2*5)
A(5) = 18500(1+0.045))^(10)
A(5) = 18500(1.045)^10
A(5) = $28,729.93
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Cheers,
Stan H.