Ashley deposited $4000 into an account with 2.5% interest, compounded semiannually. Assuming that no withdrawals are made, how much will she have in the account after 10 years?
Semiannual means twice a year, so 10 years * 2 times per year = 20 periods. We use this and plug the numbers into our compound interest calculator to get:
$5,128.15
Semiannual means twice a year, so 10 years * 2 times per year = 20 periods. We use this and plug the numbers into our compound interest calculator to get:
$5,128.15