Ask Question
Today, 21:32

Find the balance in the account.

$1,600 principal earning 7%, compounded semi-annually, after 33 years

a. $14,920.54

b. $15,494.70

c. $112,992.00

d. $4,979.11

+4
Answers (2)
  1. Today, 23:58
    0
    A=1,600 * (1+0.07:2) ^ (2*33)

    A=15,494.70
  2. 24 October, 00:01
    0
    Total = Principal * (1 + rate/n) ^n*years

    where n is the number of compounding periods per year.

    Total = 1,600 * (1.035) ^66

    Total = 1,600 * 9.6841852012

    Total = 15,494. 70

    Answer is b.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Find the balance in the account. $1,600 principal earning 7%, compounded semi-annually, after 33 years a. $14,920.54 b. $15,494.70 c. ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers