Mathematics: Keiko invested $2875 in a savings account which earns 3.15% interest compounded semiannually. what will the account be worth in 7 years?

Keiko invested $2875 in a savings account which earns

Ответ:

tashaunalewis4786

14.03.2022

Principal amount = P = $2875
Interest rate = r = 3.15% = 0.0315
Period = t = 7 years
Compunding periods = n = 2

The formula to be used is:

$A=P(1+ \frac{r}{n})^{t*n}$

Using the values, we get:

$A=2875(1+ \frac{0.0315}{2})^{2*7} =3578.11$

Thus, the worth of the account after 7 years of saving will be $3578.11

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Ответ:

ella3714

22.01.2022

Mathematics

y=mx+b

Step-by-step explanation:

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Keiko invested $2875 in a savings account which earns 3.15% interest compounded semiannually. what will the account be worth in 7 years?

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