Question #681d4

1 Answer
Aryan V
Sep 24, 2017

Well use a fomula that is used to calculate compound interest:

#A = D(1 + r/n)^(nt)#

A is the amount.
D is the deposit.
r is interest rate in decimal form.
n is the number of times that interest is compounded per year.
t is the number of years

Let's substitute now:

#A = 4500(1+(0.1)/2)^(2*10)#

This gives us an answer of

#~~ $11,939.80#

Related questions
Impact of this question
2818 views around the world
You can reuse this answer
Creative Commons License