7. An investment account pays 3.9% interest compounded semi-annually. If $4,000 is invested in this account, what will the balance be after 12 years?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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An investment account pays 3.9% interest rate compounded semi-annually. If 4000 is invested in this account, what will the balance be after 12 years?
7. An investment account pays 3.9% interest compounded semi-annually. If
$4,000 is invested in this account, what will the balance be after 12 years?
n= 2
P=
ExitTicket
n= 2
Transcribed Image Text:7. An investment account pays 3.9% interest compounded semi-annually. If $4,000 is invested in this account, what will the balance be after 12 years? n= 2 P= ExitTicket n= 2
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