Business Math : Compound Interest

Not what you're looking for? Search our solutions OR ask your own Custom question.

This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

If the principal is $2000 and the interest rate is 10% compounded semi- annually for the first 4 years and 12% compounded semi-annually for the next 5 years, what is the amount at the end of the ninth year?

© BrainMass Inc. brainmass.com December 24, 2021, 4:56 pm ad1c9bdddf
https://brainmass.com/business/business-math/business-math-compound-interest-problem-17040

Solution Preview

** Please see the attached file for the complete solution response **
Thanks for using BrainMass.

If the principal is $2000 and the interest rate is 10% ...

Solution Summary

This solution provides a detailed, step by step explanation of the given problem.

$2.49