# What is the future of $2200 invested for nine months at 4.25% compounded semiannually? Select one: a:$2270 b:$2341.73 c:$2234>97 d:$2269.76 Lipossig 2020-11-14 Answered What is the future of$2200 invested for nine months at 4.25% compounded semiannually?
Select one:
a:$2270 b:$2341.73
c:$2234>97 d:$2269.76
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FieniChoonin
compound interest formula
$p=a\left(1+r/n\right)nt$
Where
A=present value of investment
P=future value
r=rate of interest
n=number of times interest compound in a period
t=time period
Given
A=$2200 r=4.25%=0.0425 n=2 of compound semi annually $t=\left(9/12\right)yrs$ $p=2200\left(1+\left(0.0425/2{\right)}^{\left(}2\ast 9/\left(12\right)\right)$ p=$2270.5