Joseph Patrik will deposit enough money today so that his account will contain $30,00 . in 15 years. The account will pay interest at 12% compounded semiannually. Compute the interest (in dollars) that Patrik will earn during the 15 years. (Use Tables 16-1A&B or 16-2A&B or a calculator.)
0.12 ÷ 2 = 0.06; 2 × 15 = 30; $30,00 . × 0.17411 = $5,223.30;
$30,00 . - $5,223.30= $24,776.70 interest
Business
You might also like to view...
Which of the following bank assets are the most liquid?
A) Consumer loans B) Reserves C) Cash items in process of collection D) U.S. government securities
Business
Hadoop is primarily a(n) ________ file system and lacks capabilities we'd associate with a DBMS, such as indexing, random access to data, and support for SQL
Fill in the blanks with correct word
Business