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timijebs
05.03.2021 •
Mathematics
Mariel deposited ₱6,500.00 in an account that offers 5% interest compounded semi-annually. How much money is in his account at the end of five years?
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Ответ:
The amount is 8,322
Step-by-step explanation:
To get this , we are going to use the compound interest formula
A = P( 1 + r/n)^nt
A is the amount we are calculating
P is the amount deposited = 6,500
r is the interest rate = 5% = 5/100 = 0.05
n is the number of times per year the interest is compounded
= 2 since it is semi-annually
t is the number of years = 5
Substituting these values, we have it that ;
A = 6,500(1 + 0.05/2)^10
A = 6,500(1.025)^10
A = 8,322
Ответ:
honestly i dont know, im very sorry but you can look it up
Step-by-step explanation: