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What is the Compound Amount for the deposi 6980 at11 percent compounded semiannually for 8 years?
To calculate the compound amount for a deposit of $6,980 at an interest rate of 11% compounded semiannually for 8 years, you can use the formula ( A = P(1 + \frac{r}{n})^{nt} ), where ( P ) is the principal amount, ( r ) is the annual interest rate, ( n ) is the number of times interest is compounded per year, and ( t ) is the number of years. Plugging in the values: ( A = 6980(1 + \frac{0.11}{2})^{2 \times 8} ). This results in approximately $16,177.49 as the compound amount after 8 years.
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A sum of money invested at 4 percent interest compounded semiannually will double in amount in aprproximately how many years?
I haven't gotten the answer to that test question either....the choices seem wrong
What is the effective rate of 18600 invested for one year at 7 and one half percent compounded semiannually?
The annual equivalent rate is 15.5625%. The amount invested is irrelevant to calculation of the equivalent rate.
The amount to which 5000 would grow in ten years at 6 percent compounded semiannually?
To calculate the future value of an investment compounded semiannually, you can use the formula: [ A = P \left(1 + \frac{r}{n}\right)^{nt} ] where: ( A ) is the amount of money accumulated after n years, including interest. ( P ) is the principal amount (5000). ( r ) is the annual interest rate (0.06). ( n ) is the number of times that interest is compounded per year (2 for semiannual). ( t ) is the number of years the money is invested (10). Plugging in the values: [ A = 5000 \left(1 + \frac{0.06}{2}\right)^{2 \times 10} = 5000 \left(1 + 0.03\right)^{20} = 5000 \left(1.03\right)^{20} \approx 5000 \times 1.8061 \approx 9030.50 ] Thus, $5000 would grow to approximately $9030.50 in ten years at 6 percent compounded semiannually.
What is 20000 in 20 years with 7 percent interest compounded semiannually?
To calculate the future value of $20,000 in 20 years with a 7% interest rate compounded semiannually, you can use the formula for compound interest: [ A = P \left(1 + \frac{r}{n}\right)^{nt} ] Where: ( A ) is the amount of money accumulated after n years, including interest. ( P ) is the principal amount ($20,000). ( r ) is the annual interest rate (0.07). ( n ) is the number of times interest is compounded per year (2 for semiannual). ( t ) is the number of years the money is invested (20). Plugging in the values: [ A = 20000 \left(1 + \frac{0.07}{2}\right)^{2 \times 20} ] Calculating this gives approximately $76,124.74.
What is the effective rate of 18600 invested for one years at 7.5 compounded semiannually round your answer to the nearest hundredth?
The rate is 15.56%. The amount invested is irrelevant in this calculation.
What would be the amount of compound interest on 8000 invested for two years at 12 percent compounded semiannually?
Semiannually over two years is equivalent to 4 periods. If the interest is 12% every 6 months, then the amount of interest is It is 8000*[(1.12)4 -1] =4588.15
A sum of money invested at 4 percent interest compounded semiannually will double in amount in aprproximately how many years?
I haven't gotten the answer to that test question either....the choices seem wrong
What is the effective rate of 18600 invested for one year at 7 and one half percent compounded semiannually?
The annual equivalent rate is 15.5625%. The amount invested is irrelevant to calculation of the equivalent rate.
If you invest 5000 at 1.8 percent for 5 years compounded semiannually what is the amount in the account at the end of 5 years?
You should have 5976.51 provided the fractional units of interest earned are also rolled into the capital.
After 6 years what is the total amount of a compound interest investment of 35000 at 4 percent interest compounded quarterly?
$44,440.71
The amount to which 5000 would grow in ten years at 6 percent compounded semiannually?
To calculate the future value of an investment compounded semiannually, you can use the formula: [ A = P \left(1 + \frac{r}{n}\right)^{nt} ] where: ( A ) is the amount of money accumulated after n years, including interest. ( P ) is the principal amount (5000). ( r ) is the annual interest rate (0.06). ( n ) is the number of times that interest is compounded per year (2 for semiannual). ( t ) is the number of years the money is invested (10). Plugging in the values: [ A = 5000 \left(1 + \frac{0.06}{2}\right)^{2 \times 10} = 5000 \left(1 + 0.03\right)^{20} = 5000 \left(1.03\right)^{20} \approx 5000 \times 1.8061 \approx 9030.50 ] Thus, $5000 would grow to approximately $9030.50 in ten years at 6 percent compounded semiannually.
What would be the amount of compound interest on 8000 invested for one year at 6 percent compounded quarterly round your answer to the nearest dollar?
$491
What is 20000 in 20 years with 7 percent interest compounded semiannually?
To calculate the future value of $20,000 in 20 years with a 7% interest rate compounded semiannually, you can use the formula for compound interest: [ A = P \left(1 + \frac{r}{n}\right)^{nt} ] Where: ( A ) is the amount of money accumulated after n years, including interest. ( P ) is the principal amount ($20,000). ( r ) is the annual interest rate (0.07). ( n ) is the number of times interest is compounded per year (2 for semiannual). ( t ) is the number of years the money is invested (20). Plugging in the values: [ A = 20000 \left(1 + \frac{0.07}{2}\right)^{2 \times 20} ] Calculating this gives approximately $76,124.74.
What is the effective rate of 18600 invested for one years at 7.5 compounded semiannually round your answer to the nearest hundredth?
The rate is 15.56%. The amount invested is irrelevant in this calculation.
What is 73000 at 7 percent compounded semiannually for 3 years?
To calculate the future value of $73,000 at a 7% annual interest rate compounded semiannually for 3 years, you can use the formula for compound interest: [ A = P \left(1 + \frac{r}{n}\right)^{nt} ] where ( A ) is the amount of money accumulated after n years, ( P ) is the principal amount ($73,000), ( r ) is the annual interest rate (0.07), ( n ) is the number of times interest is compounded per year (2), and ( t ) is the number of years (3). Plugging in the values: [ A = 73000 \left(1 + \frac{0.07}{2}\right)^{2 \times 3} \approx 73000 \times (1.035)^6 \approx 73000 \times 1.225 \approx 89,725. ] Thus, the future value after 3 years is approximately $89,725.
Future value of 600 for invested for 5 years at 8 percent interest compounded semiannually?
The future value of $600 invested for 5 years at an 8% interest rate compounded semiannually can be calculated using the formula FV = P(1 + r/n)^(nt), where FV is the future value, P is the principal amount, r is the interest rate, n is the number of times the interest is compounded per year, and t is the number of years. In this case, P = $600, r = 8% = 0.08, n = 2 (since interest is compounded semiannually), and t = 5. Plugging these values into the formula, we get FV = 600(1 + 0.08/2)^(2*5) = $925.12. Therefore, the future value of the investment after 5 years would be $925.12.
What does semiannually mean in compound interest?
Semiannually in compound interest refers to the process of compounding interest twice a year. This means that interest is calculated and added to the principal amount every six months. As a result, the total amount of interest earned over a year is higher compared to annual compounding, since interest is calculated on the previously accrued interest more frequently.
