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17 February, 07:42

The principal $3000 is accumulated with 3% interest, compounded semiannually for 6 years.

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  1. 17 February, 07:52
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    The formula is

    A=p (1+r/k) ^kt

    A accumulated amount?

    P principle 3000

    R interest rate 0.03

    K compounded semiannually 2

    T time 6 years

    A=3,000 * (1+0.03:2) ^ (2*6)

    A=3,586.85
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