Jim Moore opens a new savings account. He deposits $12,000 at 12% compounded semiannually. At the start of the fourth year, Jim deposits an additional $50,000 that is also compounded semiannually at 12%. At the end of six years, the balance in Jim Moore's account is
1 answer:
<span>It is
12000 x (1.06)^12 + 50000 x (1.06)^6
= 95,072.31
start of 4th year to end of 6th year = 6 semi-annual periods where interest is compounded for the second deposit</span>
You might be interested in
It would be HL=I !!!!!!!!!!!!!!!!!!!!
Answer:
$500
Step-by-step explanation:
She pick in $400, she took that $400 out so she would then have $0
She then inserted $500 back in with no money previously
Answer:
5
Step-by-step explanation:
I think
310/62= hours which equals 5! hope this helped a bit.
