An investment of $24,000 is made in a government bond that will pay 1% bi-monthly interest (meaning that the investment will increase by 1% every two months). At the end of five years, what is the total number of dollars in this investment? Express your answer to the nearest whole number.

Guest Aug 3, 2020

#1**+1 **

24000 ( 1+ .01)^ 30 .01 is the interst pr compounding period (2 months) 30 = number of 2 month periods

ElectricPavlov Aug 3, 2020