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You deposit $1,300 in a bank account that pays 12% stated annual interest compounded semi-annually. What is the value of your investment at the end of 11 years?

Answer :

Aliwohaish12
Answer:

4684.59

Explanation:

The equation says

A=p×(1+r/n)^(n×t)
A future value
P present value 1300
R interest rate 0.12
N semi annual 2
T time 11 years
So
A=1,300×(1+(0.12÷2))^(2×11)

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