hereilly10 hereilly10

02-08-2017
Mathematics

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$1400 principal earning 6%, compounded semi-annually, after 10 years?

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mathmate mathmate

02-08-2017

Assuming future value of the principal is required.

P=1400
i=0.06/2=0.03
n=10*2=20
Future value
=P(1+i)^n
=1400(1.03)^30
=2528.56

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