Ask Question
24 August, 06:33

Lea invests $8,333 in a savings account with a fixed annual interest rate of %8 compounded 2 times per year. What will the account balance be after 12 years?

+5
Answers (1)
  1. 24 August, 06:36
    0
    Total = Principal * (1 + rate/n) ^n*years

    Total = 8,333 * (1 +.08/2) ^ 2*12

    Total = 8,333 * (1 +.04) ^24

    Total = 8,333 * 2.5633041649

    Total = 21,360.01
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Lea invests $8,333 in a savings account with a fixed annual interest rate of %8 compounded 2 times per year. What will the account balance ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers