What is $1800 semi annually @ 10% per annum compounded every 6 months?

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What is $1800 semi annually @ 10% per annum compounded every 6 months?

2007-01-21 09:35:36 · 3 answers · asked by Anonymous in Business & Finance ➔ Investing

3 answers

I assume you wanted this for 5 years as you did for your other question.

1800* (((1+.05)^10)-1)/.05= $22,640.21

2007-01-21 10:53:49 · answer #1 · answered by nickfromct 3 · 0⤊ 0⤋

semi-annually is the same as everysix months. It will be 5% the first six months or $90, and then $1890 x 5% or $94.50 for the next six months =$1984.50
Compounded just means that the interest is included with the whole amount.

2007-01-21 09:41:50 · answer #2 · answered by Scott O 3 · 0⤊ 0⤋

whoever writes your homework sucks. semi annually means compounded every six months.

2007-01-21 13:55:53 · answer #3 · answered by Modus Operandi 6 · 0⤊ 0⤋