Determine the total amount and the interest paid on $3000 with interest compounded semiannually for 5 years at a) 1%. b) 2%. c)

Question

Determine the total amount and the interest paid on $3000 with interest compounded semiannually for 5 years at
a) 1%.
b) 2%.
c) 4%.
d) Is there a predictable outcome in either the amount or the interest when the rate is doubled?

Kunduz · Accepted Answer

Click to see the answer