Calculating Semi-Annual Compounded Interest
Not what you're looking for?
If $4500 is deposited into an account paying 4.5% compounding semiannually, how much will you have in the account in 7 years? Round the answer to 2 decimal places.
The amount in the account will be?
Purchase this Solution
Solution Summary
This solution explains how to calculate interest earned when compounded semiannually.
Solution Preview
The general formula for interest is:
Future Value = Present Value (1 +rate) ^number of times compounded ...
Purchase this Solution
Free BrainMass Quizzes
Basics of corporate finance
These questions will test you on your knowledge of finance.
MS Word 2010-Tricky Features
These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.
Introduction to Finance
This quiz test introductory finance topics.
Business Processes
This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.