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Vhat is the compound amount and compound interest of $36,000 invested at 12% com- ounded semiannually for 7 years? NOTE: Excel will provide greater accuracy
Vhat is the compound amount and compound interest of $36,000 invested at 12% com- ounded semiannually for 7 years? NOTE: Excel will provide greater accuracy with the ompound interest formula than may be obtained by using Table 11-2. Therefore, answers vill differ slightly from those in the book. Compoun Term of Compound- d Amount Investmen Nominal ing Periods (us-ing Compound Principal t(years) Rate (%) in a Year formula) Interest Compoun d Amount (us-ing table) Table 11-1 Value =
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