If $13,300 is invested at 3.7% interest compounded semi-annually, how much will the investment be worth in 18 years?

A. $25,730.54
B. $25,808.47
C. $25,861.09
D. $25,578.16

Question

If $13,300 is invested at 3.7% interest compounded semi-annually, how much will the investment be worth in 18 years?

 		A.	$25,730.54
 		B.	$25,808.47
 		C.	$25,861.09
 		D.	$25,578.16

anonymous · Answer

$$I = P(1 + \frac rn)^{nt}$$

anonymous · Answer

Where:
P = Principal
r = rate in decimals
n = number of times compounded a year
t = number of years

anonymous · Answer

so wat may be the answer

anonymous · Answer

You're gonna have to plug the values into the formula.

anonymous · Answer

I can't just give you the answers.

anonymous · Answer

I = 13300(1 + 0.037/2)^36
Can you solve it now?

anonymous · Answer

yes

anonymous · Answer

ican't resolve it i dont have parenthesis

anonymous · Answer

Just do what's in the parentheses first.
I = 13300(1 + 0.037/2)^36
I = 13300(1 + 0.0185)^36
I = 13300(1.0185)^36
Now just plug in 1.0185^36
and then multiply that by 13300

anonymous · Answer

omg is too complicated

anonymous · Answer

It's not complicated at all. It just looks complicated.

anonymous · Answer

idk man or girl about this problem

anonymous · Answer

Do you have a scientific calculator?

anonymous · Answer

no i dont

anonymous · Answer

thats why

anonymous · Answer

Do you have a regular calculator?

anonymous · Answer

yeah in the computer

anonymous · Answer

Just multiply 1.9346268 by 13300 using the calculator on your computer.

anonymous · Answer

Post your answer on here.

anonymous · Answer

is a

anonymous · Answer

25730.53

anonymous · Answer

Yes.

anonymous · Answer

alright thank u :) i will looking for u if i need ur help :)

anonymous · Answer

Anytime :)

anonymous · Answer

:)

anonymous · Answer

http://tinypic.com/view.php?pic=24xhqmt&s=6 this one plz

anonymous · Answer

I believe that it's C.

anonymous · Answer

really ah ok

anonymous · Answer

Rudolph's average balance checking account pays simple interest of 8.4% annually, and he made $6.93 in interest last month. What was Rudolph's average balance last month?

 		A.	$9900.00
 		B.	$99.00
 		C.	$9.90
 		D.	$990.00

anonymous · Answer

whbu this one

anonymous · Answer

I'm not completely sure, but I think that it's D. I gotta go, so ask someone to double check my work.

anonymous · Answer

Pablo deposited $57 into a savings account for which interest is compounded quarterly. According to the Rule of 72, what interest rate will cause his money to double in approximately 44 years? this one

 		A.	1.3%
 		B.	0.8%
 		C.	0.6%
 		D.	1.6%