A $500 investment earns 9% compounded semianually for 10 years. Calculate final value and show work.
Mathematics
BeccaCarter
Question
A $500 investment earns 9% compounded semianually for 10 years. Calculate final value and show work.
1 Answer

1. User Answers cjoanw2014
$1205.86 is the answer
the equation is A= 500(1.045)^2(10)
the 1.045 comes from adding one to .09 (the percent) divided by 2