Mathematics, 12.08.2019 22:10 Geo777
Assume abc company deposits $90,000 with first national bank in an account earning interest at 6% per annum, compounded and semi-annually. how much will the abc have in the account after five years if interest is reinvested?
a) $120,953
b) $90,000
c) $117,000
d) $120,442
Answers: 2
, where P is principal amount , r is rate of interest and n is the number of time periods.
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Assume abc company deposits $90,000 with first national bank in an account earning interest at 6% pe...
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