garciarigoberto2983 garciarigoberto2983
  • 03-02-2021
  • Mathematics
contestada

Riley invested $1000 in saving Spohn, if the bonds earn 6.5% interest and the compounded semi annually how much total Riley earn in 15 years?

Respuesta :

andromache andromache
  • 08-02-2021

Answer:

$2,610.37

Step-by-step explanation:

The computation of the amount that should be earn in 15 years is shown below:

As we know that

Future value = Present value × (1 + rate of interest)^number of years

= $1,000 × (1 + 6.5% ÷ 2)^15 × 2

= $1,000 × (1 + 3.25%)^30

= $1,000 × 2.610368439

= $2,610.37

Answer Link

Otras preguntas

Who was the 16th president?
multiply 5/6 times 24/25
Horacio y Fernando______ en la cafetería cuando Miguel se cayó al suelo What do I put in the blank? Almorzaron or almorzaban?
What is the value of y if x = -0.6? A. -3 B. -2 C. 0 D. 3
Which of the following is one of the commonly held ideals of American political culture? A.belief in a unitary government and centralized decision-making B.beli
write a paragraph In which you discuss whetherthese findngs about equaliy in hunter-gathering societies are of any relevance to 21st century society
did benjamin franklin have access to invisible ink?
If your clothing catches fire, you should. a. stop, drop, and roll. b. run outside. c. stay low and run to escape flames.
)Lying quad stretches are an effective static stretch for runners because they A: raise muscle stamina during a workout B. lower muscle temperature after a work
If the germs in a vaccine we're not dead or deactivated then the vaccine would