contestada

Suppose that $2000 is loaned at a rate of 15.5%, compounded semiannually. Assuming that no payments are made, find the amount owed after 9 years. Do not round any intermediate computations, and round your answer to the nearest cent

Respuesta :

Aliwohaish12
The formula is
A=p (1+r/k)^kn
A future value?
P present value 2000
R interest rate 0.155
K compounded semiannual 2
N time 9 years

A=2,000×(1+0.155÷2)^(2×9)
A=7,665.51

Otras preguntas