Solutions
Integral CalculatorDerivative CalculatorAlgebra CalculatorMatrix CalculatorMore...
Graphing
Line Graph CalculatorExponential Graph CalculatorQuadratic Graph CalculatorSin graph CalculatorMore...
Calculators
BMI CalculatorCompound Interest CalculatorPercentage CalculatorAcceleration CalculatorMore...
Geometry
Pythagorean Theorem CalculatorCircle Area CalculatorIsosceles Triangle CalculatorTriangles CalculatorMore...
Tools
NotebookGroupsCheat SheetsWorksheetsPracticeVerify
en
English
Español
Português
Français
Deutsch
Italiano
Русский
中文(简体)
한국어
日本語
Tiếng Việt
עברית
العربية
Popular Word Problems >

Find the future value and interest earned if 8804.56 is invested for 8 years at 6% compounded semiannually

  • Pre Algebra
  • Algebra
  • Pre Calculus
  • Calculus
  • Functions
  • Linear Algebra
  • Trigonometry
  • Statistics
  • Physics
  • Chemistry
  • Finance
  • Economics
  • Conversions

Solution

solve for thefuturevalueandinterestearnedif8804.56isinvestedfor8yearsat6%compoundedsemiannually

Solution

Interest:5324.17
Solution steps
Translate the problem into an equation:14128.73=8804.56+I
Solve for I,14128.73=8804.56+I:I=5324.17
Interest:5324.17

Popular Examples

One of Krista’s classmates, Steven, has also been saving. His parents opened a compound interest account for him when he was a baby. They made an initial investment of 500 and the account had a 2.5% interest rate. How much more money does Steven have in his account than Krista has in her account, after 18 years?One number is three more than a second number. Four times the first is 2 less than 5 times the second. Find the numbers. Let x represent one number and y represent the second number.The quotient of a number x and nine is six.the different of a number x multiplied by itself and 65 is 109 is 24% of what number
Study ToolsAI Math SolverPopular ProblemsWorksheetsStudy GuidesPracticeCheat SheetsCalculatorsGraphing CalculatorGeometry CalculatorVerify Solution
AppsSymbolab App (Android)Graphing Calculator (Android)Practice (Android)Symbolab App (iOS)Graphing Calculator (iOS)Practice (iOS)Chrome ExtensionSymbolab Math Solver API
CompanyAbout SymbolabBlogHelp
LegalPrivacyTermsCookie PolicyCookie SettingsDo Not Sell or Share My Personal InfoCopyright, Community Guidelines, DSA & other Legal ResourcesLearneo Legal Center
Social Media
Symbolab, a Learneo, Inc. business
© Learneo, Inc. 2024