Brenda invests 21,548.57 in a savings account with a fixed annual interest rate of 8.78 % compounded semi-annually. What will the account balance be after 7 years

Lời Giải

Brenda invests 21, 548.57 in a savings account with a fixed annual interest rate of 8.78 % compounded semi-annually. What will the account balance be after 7 years

Lời Giải

Amount : 39322.67

Các bước giải pháp

Translate the problem into an equation:

A = 21548.57 (1 + \frac{0.0878}{2})^{2 \cdot 7}

21548.57 (1 + \frac{0.0878}{2})^{2 \cdot 7} = 39322.67203 \dots

Làm tròn đến hundredth gần nhất:

39322.67

Amount : 39322.67

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