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14 June, 01:36

find the total amount in the compound intrest account. $9000 is compounded semiannually at a rate of 11% for 22 years.

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  1. 14 June, 03:23
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    The compound amount function is A = P (1 + r/n) ^ (nt)

    Here that amount would be:

    A = $9000 (1 + 0.11/2) ^ (2*22)

    = $9000 (10.546) = $94918.47
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