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Question Completion Status > Click Submit to complete this assessment Question estions 10 points How much will there be in an account at the end of 9 years if an amount of AED 28,000 is deposited and the interest is 5% per year compounded semi-annually (10 marks) Activate Windows TT T Arial 312pt) Go to Settings to do RI (Ps ded INS F1 SOLO DEL 8 1 9 34 9 BACK SPACE

Answer 1

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Answer:

Use the compound interest formula
A =
Where
A = the resulting amt after t years
p = initial amt (28000)

r = interest rate in decimals (.05)
n = no. of times compounded per year (2)
t = no. of yrs (9)

nt

A = 28000*(1+(.05/2))^(9*2)

= 43670.44