If you invest $1,000 into a savings account at an annual interest rate of 3% (APR),...

If you invest $1,000 into a savings account at an annual interest rate of 3% (APR), compounded semi-annually, how much will you have in the savings account after 14 years?

Expert Solution

rate positively .. let me know if you need any clarification .


Future value =	$ 1,006.27
1000(1+1.5%)^(1.5%28)

Answer =		$ 1,006.27

jeff jeffy answered 2 years ago

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If you invest $1,000 into a savings account at an annual interest rate of 3% (APR),...

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