Maria invests $32,500 at 8% compounded semiannually. How much will she have at the end of 4 years?
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As per Question we have P = 32500
r = 8%
n = 4
The interest are compounded semiannually.
then we have S= P(1+r/2*100) ^2n
= 32000(1 + 8/2*100)^8
= 32000(1.04)^8
= 43794.21
She will have $ 43794.21
r = 8%
n = 4
The interest are compounded semiannually.
then we have S= P(1+r/2*100) ^2n
= 32000(1 + 8/2*100)^8
= 32000(1.04)^8
= 43794.21
She will have $ 43794.21
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