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17-11-2021
Mathematics

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$1,000 invested at 8% compounded semiannually after a period of 2 years

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ZinCeNeyeLv ZinCeNeyeLv

17-11-2021

Answer:

1160 will be the new amount after 2 years

Step-by-step explanation:

P = $1000, t = 2 years, r = 0.08.

A = 1000(1+0.08(2)) = 1000(1.16) = 1160

Therefore 1160 is the new amount after two years.

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