shadalawashington shadalawashington

21-06-2021
Mathematics

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Suppose that $2000 is invested at a rate of 4%, compounded semiannually. Assuming that no withdrawals are made, find the total amount after 5 years. Do not round any intermediate computations, and round your answer to the nearest cent.

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loconte loconte

21-06-2021

Answer:

Step-by-step explanation:

A = P(1+r/n)^ nt

A = 2000(1+.04/2)^(5*2)

A = [tex]2000(1.02)^{10}[/tex] = $2437.99

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