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A $1,600.00 Principal earns 7% interest, compounded semiannually twice per year. After 33 years, what is the balance in the account?

A. $4,979.11
B. $14,920.54
C. $112,992.00
D. $15,494.70

Respuesta :

wolf1728
Total = 1,600 * (1 + .07/2)^(2*33)
Total = 1,600 * (1.035)^66
Total = 1,600 * 9.6841852012
Total = 15,494.70
 Answer is D

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elementskate1789

Answer:

$15,494.70

Step-by-step explanation:

Compounding twice year, 3.5% each, 66 times  

result=$1,600*1.035^66 = $15,494.70  

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