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11 June, 15:54

Find the balance in the account. $1,400 principal earning 6%, compounded semi-annually, after 10 years

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  1. 11 June, 18:21
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    A=P (1+r/n) ^nt

    Plug in the values:

    P=1400, r=6/100=0.6,

    n=2 and t=10

    A=1400 (1+.06/2) ^2 (10)

    A=$2528.56
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