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Popular Word Problems >

Find the future value.19,691 invested for 9 years at 3% compounded semiannually

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Solution

solve for thefuturevalue.19,691investedfor9yearsat3%compoundedsemiannually

Solution

Amount:25742.84
Solution steps
Translate the problem into an equation:A=19691(1+20.03​)2⋅9
19691(1+20.03​)2⋅9=25742.84446…
Round to the nearest hundredth:25742.84
Amount:25742.84

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