Find the compound amount for the deposit and the amount of interest earned. $230 at 5.2%...

Find the compound amount for the deposit and the amount of interest earned.

$230 at 5.2% compounded semiannually for 17 years

The compounded amount after 17 years is $____?.

The amount of interest earned is $_____?

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Expert Solution

calc:

From the wording of the question, it is not clear whether future value of annuity or future value of present value is to be calculated. But my best guess is, the answer is the former part.

jeff jeffy answered 1 year ago

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