manamanamanmh87 manamanamanmh87
  • 25-08-2022
  • Mathematics
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Find the total amount in the compound interest account. 9000 is the compounded semiannually at a rate of 11% for 22 years.

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pstnonsonjoku
pstnonsonjoku pstnonsonjoku
  • 29-08-2022

The amount that is compounded after 22 years is 94918.

What is the compound interest?

The compound interest is the interest that is compound both of the principal and the interest.

Now we can use the formula;

A = P(1 + r/n)^nt

Where;

A = amount

P = principal

r = rate

n = number of times compounded

t = time taken

A = 9000(1 + 0.11/2)^ (2 * 22)

A = 94918

Learn more about compound interest:https://brainly.com/question/14295570

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