$10,000 at an annual rate of 7%, compounded semi-annually, for 2 years

Use the compound interest table to find each balance

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$10,000 At An Annual Rate Of 7%, Compounded Semi-annually, For 2 YearsUse The Compound Interest Table

Answers

Answer 1

Answer:

[tex]\$13,107.96[/tex]

Step-by-step explanation:

Since interest is compounded semi-annually (half a year or 6 months), in a spawn of 2 years, the interest will have been compounded 4 times. As given in the problem, each time the interest is compounded, the new balance will be 107% or 1.07 times the amount of the old balance.

Therefore, we can set up the following equation to find the new balance after 2 years:

[tex]\text{New balanace}=10,000\text{ (old balance)}\cdot 1.07\cdot 1.07\cdot 1.07\cdot 1.07,\\\text{New balanace}=10,000\cdot 1.07^4=\boxed{\$13,107.96}[/tex]


Related Questions

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Answer:

-2/6 x -2

Step-by-step explanation:

the slope is -2/6 and y int is -2

What is the formula to find the rate of discount when M.P and S.P after discount is given.

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Answer:

Selling Price = M.P. – Discount = 100 – 5 = Rs. 95. If S.P. is Rs 95, then M.P. is Rs. 100.

Answer:

mp=sp+d

Step-by-step explanation:

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Look at the shape which image shows a reflection?

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Answer:

C

Step-by-step explanation:

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Answer:

C is the answer because it is a flipped object that has the same mass as the picture above.

Step-by-step explanation:

3 1/2 mi= _ft
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Answer:

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Step-by-step explanation:

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Answers

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Answer:

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Answers

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Answers

Answer:

7.02 ft

Step-by-step explanation:

Tan=opposite/adjacent

Tan(78)=x/33X×Tan(78)=334.70x=33do 33 divided by 4.70then you'll get 7.02 if your calculator is on Radian in mode

Answer:

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hi

your welcome have a good

day

Step-by-step explanation:

Which operation would be last when solving the inequality -5x + 9 < -6

Answers

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Step-by-step explanation:

Subtract 9 from both sides.

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Step 2: Divide both sides by -5.

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Answers

Answer:

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Step-by-step explanation:

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Ted earned $4,300 from his summer internship that he plans to invest so that he can buy a used car after three years. Ted chooses a bank that offers 5.5% compounded quarterly. Can Ted buy a car that costs $4,700 after three years? Round your numbers to the nearest cent.

Answers

Answer: Yes he will be

Step-by-step explanation:

To find out if Ted can afford the car, find the future value of $4,300 in three years.

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Answer:

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Step-by-step explanation:

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Step-by-step explanation:

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Answer:

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Answer:

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Step-by-step explanation:

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Step-by-step explanation:

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Answer: 102.5

Step-by-step explanation:

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Answer:

102.5

Step-by-step explanation:

Semi circle = 78.54 ≈ 78.5

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Answers

Answer:

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Step-by-step explanation:

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Answers

Answer:

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Answers

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Step-by-step explanation:

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Step-by-step explanation:

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The length of the black minus the blue line:
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You also got the second question right because 4+2 is 6

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Answers

Answer:

15ft

Step-by-step explanation:

A clothing trunk measures 2.5 feet wide by 1.5 feet high by 4 feet long.

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What is the volume of the cuboid?

The volume of the cuboid is the product of the length, breadth, and height of the given prism.

Volume of cuboid = (length x width x height)

A clothing trunk measures 2.5 feet wide by 1.5 feet high by 4 feet long.

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 [tex]2.5\times 1.5 \times 4\\6 \times 2.5\\15[/tex]

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Answer:

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Step-by-step explanation:

A triangle is formed by A(0,1), B(1,0), and C(2,4). If the triangle is rotated 90 degrees counterclockwise, which algebraic representation would be used? Select one:

0 (2, y) + (-1, - y)

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Answers

Answer:

[tex](x,y) \to (-y,x)[/tex]

Step-by-step explanation:

Given

[tex]A = (0,1)[/tex]

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[tex]C = (2,4)[/tex]

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Required

The algebraic representation

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