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BeccaCarter BeccaCarter
  • 01-02-2017
  • Mathematics
Answered

A $500 investment earns 9% compounded semi-anually for 10 years. Calculate final value and show work.

Verified Answer :

cjoanw2014 cjoanw2014
  • 01-02-2017

$1205.86 is the answer
the equation is A= 500(1.045)^2(10)
 the 1.045 comes from adding one to .09 (the percent) divided by 2

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