Answered

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What is the accumulated value if the money is compounded semiannually?

What Is The Accumulated Value If The Money Is Compounded Semiannually class=

Sagot :

Given:

[tex]\begin{gathered} P=20,000 \\ t=6years \\ r=5.5\% \end{gathered}[/tex]

Required:

To find the accumulated value.

Explanation:

Consider

[tex]A=P(1+\frac{r}{n})^{nt}[/tex]

Here

[tex]\begin{gathered} =20000(1+\frac{0.055}{2})^{2\times6} \\ \\ =20000(1+0.0275)^{12} \\ \\ =27,695.68 \end{gathered}[/tex]

Final Answer:

The accumulated value is $27,695.7

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