Question

8. How much interest is included in the accumulated value of $3200 paid at the end of

every six months for four years if the interest rate is 6.5% compounded semi-annually​

Answer 1

Answer:

$a = p(1 + { \frac{r}{n}) }^{nt}$

A=final amount

P=initial principal balance

r =interest rate

n=number of times interest applied per time period

t=number of time periods elapsed