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Sandra deposits $3,000 at the end of each semiannual period for 12 years at 10% interest compounded semiannually. Determine the amount she will have in the account after 12 years. Round to the nearest cent. A. $133,506. 00 b. $140,181. 30 c. $121,291. 43 d. $70,568. 14.

Respuesta :

Tundexi

The amount she will have in the account after 12 years is $9,675.30

Given information

PV = $3,000

N = 12

M = 2

I = 10%

Future value = PV* (1+i/m)^nm

Future value = $3,000 * (1 + 0.10/2)^2*12

Future value = $3,000 * 3.22509994371

Future value = $9,675.29983

Future value = $9,675.30

Hence, the amount she will have in the account after 12 years is $9,675.30

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