Find the best answers to your questions at Westonci.ca, where experts and enthusiasts provide accurate, reliable information. Join our platform to get reliable answers to your questions from a knowledgeable community of experts. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.
Sagot :
Answer:
In 10 years you would have saved $33,428.15.
Explanation:
A=P (1+ r/n)^nt
A = The final amount
P = The intial principal balance: $20,500
R = The interest rate: 4.95%
N = The number of times interest is applied per period: Semi annually (1.5)
T= The time periods elapsed: 10 years
A = 20,500 (1+4.95/1.5)^(1.5•10)
In 10 years you would have saved $33,428.15.
Explanation:
A=P (1+ r/n)^nt
A = The final amount
P = The intial principal balance: $20,500
R = The interest rate: 4.95%
N = The number of times interest is applied per period: Semi annually (1.5)
T= The time periods elapsed: 10 years
A = 20,500 (1+4.95/1.5)^(1.5•10)
Thanks for stopping by. We are committed to providing the best answers for all your questions. See you again soon. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.