
Ngoc T.
asked 11/06/21(a) How much will be in the account after 12 years? (b) How much did you deposit in total? (c) How much total interest did you earn?
You decide to contribute to a savings account with an interest rate of 10% compounded semi-annually. If you contribute semi-annually deposits of $700 for 12 years,
(a) How much will be in the account after 12 years? correct
(b) How much did you deposit in total?
(c) How much total interest did you earn?
1 Expert Answer
Nazlee R. answered 11/14/21
Knowledgeable, Tenacious, and Patient Tutor in Columbia
Use the compound interest formula
A=P(1+r/n)^nt
P=principal r=rate n=times interest levied/year t=time in years
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Mark M.
What formula are you using?11/07/21