Panda02 Panda02

02-05-2019
Mathematics

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Jonathon deposits $11,000 in an account paying 6% compounded semiannually. Find the interest earned on the investment after 10 years.
$19,867.22

$8,954.20

$8,867.22

$19,954.20

Respuesta :

wolf1728 wolf1728

02-05-2019

Answer:

Total = Principal * (1 + 6%/2)^2*years

Total = 11,000 * (1.03)^2*10

Total = 11,000 * (1.03)^20

Total = 11,000 * 1.8061112347

Total = 19,867.22

Step-by-step explanation:

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