2 years ago

Record 3 and 2/25 as a decimal

Mathematics

1 answer:

daser333 [38]2 years ago

7 0

Answer:

3 2/25 = 3.08

Step-by-step explanation:

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Step-by-step explanation:

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3 years ago

You have decided to invest $1000 in a savings bond that pays 4% interest, compounded semi-annually. What will the bond be worth

Evgen [1.6K]

Answer:

$2191.12

Step-by-step explanation:

We are asked to find the value of a bond after 10 years, if you invest $1000 in a savings bond that pays 4% interest, compounded semi-annually.

$FV=C_0\times (1+r)^n$ , where,

$C_0=\text{Initial amount}$ ,

r = Rate of return in decimal form.

n = Number of periods.

Since interest is compounded semi-annually, so 'n' will be 2 times 10 that is 20.

$4\%=\frac{4}{100}=0.04$

$FV=\$1,000\times (1+0.04)^{20}$

$FV=\$1,000\times (1.04)^{20}$

$FV=\$1,000\times 2.1911231430334194$

$FV=\$2191.1231430334194$

$FV\approx \$2191.12$

Therefore, the bond would be $2191.12 worth in 10 years.

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