Solve the problem
Helpp plzzzz
An initial investment of $14,000 is appreciated for 12 years in an account that earn 10% interest, compounded semiannually . find the amount of money in the account at the end of the period

Question

Solve the problem
Helpp plzzzz
 An initial investment of $14,000 is appreciated for 12 years in an account that earn 10% interest, compounded semiannually . find the amount of money in the account at the end of the period

mathmale · Answer

I'd suggest you look up the formula for AMOUNT stemming from compounding used when interest is compounded n times per year (but not continuously compounded).  If you'd do that, half the battle would be won.  Hints:  P=14000, n=2, r=0.10.

mathmale · Answer

(continued) and t=12 (years).