Two years

Roy deposited 50,000.00 into his account, paying 4% annual interest compounded semi-annually. How much is the interest after two years?

Correct answer:

i =  4121.608

Step-by-step explanation:

a=50000 p=4%=1004=251=0.04  k=1+p/2=1+0.04/2=5051=1501=1.02  i=a k2 2a=50000 1.022 250000=4121.608



Did you find an error or inaccuracy? Feel free to write us. Thank you!







Tips for related online calculators
Do you want to convert time units like minutes to seconds?

You need to know the following knowledge to solve this word math problem:

Units of physical quantities:

Grade of the word problem:

Related math problems and questions: