Question #267357

Mia Benson invested her summer earnings of R3 000 in a savings account which pays 2.5% interest. How much will this amount to in 6 months?

1
Expert's answer
2021-11-24T15:09:49-0500

FV=PV(1+r)nFV=PV(1+r) ^n\\

after 6 months:

FV=3000(1+0.025)1/2=R3037.27FV=3000(1+0.025) ^{1/2} =R 3037.27


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!
LATEST TUTORIALS
APPROVED BY CLIENTS