Respuesta :
Answer:
The total ammount in the compound interest account is $73325.30
Step-by-step explanation:
The compound interest formula is given by:
[tex]A = P(1 + \frac{r}{n})^{nt}[/tex]
A: Amount of money(Balance)
P: Principal(Initial deposit)
r: interest rate(as a decimal value)
n: number of times that interest is compounded per unit t
t: time the money is invested or borrowed for.
In our problem, we have that:
A = total amount
P = $9000
r = 0.12
n = 2(semiannually means twice a year)
t = 18
So:
[tex]A = 9000 (1 + \frac{0.12}{2})^{36}[/tex]
[tex]A = 9000*(8.147)[/tex]
[tex]A = $73325.30[/tex]
The total ammount in the compound interest account is $73325.30
Answer:
A
Step-by-step explanation:
On edge I got it right 2020 to 2021
