+0  
 
0
102
1
avatar

June deposited $9000 in an account that pays 5.4% compound interest per year. Find the total amount of the account afterthe interest compounded.

(a)monthly

(b)half-yearly

 Jun 20, 2020
 #1
avatar
0

N=12; R=0.054/12;PV=9000; FV=PV*(1 + R)^N; print"FV =$",FV

FV =$ 9,498.21 - Monthly compound for 1 year, or 12 months.

 

N=2; R=0.054/2;PV=9000; FV=PV*(1 + R)^N; print"FV =$",FV

FV =$ 9,492.56 - Semi-annual compound for 1 year.

 Jun 20, 2020

31 Online Users

avatar
avatar
avatar