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?
I suppose you mean compound interest. There are 30 bi-months in five years. We can turn this is 24000*1.01^30, which equals to 32348.37, when rounded to the nearest hundreth.
I suppose you mean compound interest. There are 30 bi-months in five years. We can turn this is 24000*1.01^30, which equals to 32348.37, when rounded to the nearest hundreth.
+15 
