Determine the algebraic modeling How much money will there be in an account at the end of 7 years if $2000 is deposited at displaystyle{4}% interest compounded serni-annually?

Question

Determine the algebraic modeling How much money will there be in an account at the end of 7 years if $2000 is deposited at

4 %

interest compounded serni-annually?

Answer 1

Given data,
$t = 7$ years
$P = 2000$
$| ><= 4 % = 0, 04$
$n = 2$ (semi-anually)
$A = P {(1 + \frac{| ><}{n})}^{t} n$
$= 2000 {(1 + \frac{0, 04}{2})}^{2 + 7}$
$= 2000 {(1 + 0, 02)}^{14}$
$= 2638, 96$
We get a finally answer

$A = $ 2639$

The amoun $a | >< 7$ years is $ 2639

Answer 2

Jeffrey Jordon

Answered 2021-11-03 Author has 2064 answers

Answer is given below (on video)

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Determine the algebraic modeling How much money will there be in an account at the end of 7 years if $2000 is deposited at displaystyle{4}% interest compounded serni-annually?

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