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14 January, 01:50

Find the future value and interest earned if $8906.54 is invested for 9 years at 6% compounded semianually

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  1. 14 January, 03:40
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    For continuous compounding, use the formula F = Pe^rt

    1. find the future value and interest earned if $8906.54 is invested for 9yr at 6% compounded

    (a) semiannually

    F = 8906.54 (1 + 0.06/2) ^ (2*9) = 15162.79
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