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Author Question: Find the amount in a savings account at the end of 9 years if the amount ... (Read 189 times)

Sufayan.ah

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Solve the problem.

Find the amount in a savings account at the end of 9 years if the amount originally deposited is $9000 and the interest rate is 7% compounded semiannually.

Use: A = Pntwhere:
A = final amount
P = $9000 (the initial deposit)
r = 7% = 0.07 (the annual rate of interest)
n = 2 (the number of times interest is compounded each year)
t = 9 (the duration of the deposit in years)
◦ $12,266.08
◦ $16,717.40
◦ $167,670.00
◦ $18,389.14


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Marked as best answer by Sufayan.ah on Feb 28, 2021

jsm54321

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Sufayan.ah

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Reply 2 on: Feb 28, 2021
Gracias!


amit

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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