BablaKanchan BablaKanchan

17-05-2022
Mathematics

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7. Interest is compounded semianually. Find the amount in the account after the given time.

7 Interest is compounded semianually Find the amount in the account after the given time class=

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Аноним Аноним

17-05-2022

Answer:

$1,229.26

Step-by-step explanation:

Finding compound interest :

A = P (1 + r/n)^(nt)
A = (1,000)(1 + 0.07/2)²⁽³⁾
A = (1,000)(1.035)⁶
A = (1,000)(1.22925533)
A = $1,229.26

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