An investment is advertised as returning 3.7% every 6 months (semiannually), compounded semiannually. if $50,000 is invested, the growth can be modeled by the equation a(t) = 50,000(1.037)2t.
what is the equivalent annual growth rate for this investment (rounded to the nearest hundredth of a percent) and what is it worth (rounded to the nearest thousand dollar) after 25 years?
8.50% and $308,0007.54% and $308,0007.44% and $298,00022.22% and $96,000
Answers: 3
and n = 2,
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An investment is advertised as returning 3.7% every 6 months (semiannually), compounded semiannually...
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