YTDragonX
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Joseph borrows $10000 from his sister Katie at an annual interest rate of 10%. If the
interest is compounded twice a year, how much does he owe after 12 months? Give your answer in dollars.

Respuesta :

890221048

Answer:

A  =  P  ( 1  + r / n)  ^( t * n)

where

A  =  the amt  owed

P  = amt borrowed

r  = the  interest  rate  as a decimal

n =  the  number of compoundings  per year

t  = the  number of years

A  =    10000  (  1  + .10  / 2)^(2 *1)    =   10000  ( 1.05)^2    =  $11025

Step-by-step explanation:

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