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You have an investment account in which you invest $3,000 at 9.5%. If the account is compounded bi-monthly, how much money will be in the account after 10 years? ​

Respuesta :

Bromine67

Answer:

$5850 is the answer

Step-by-step explanation:

P = $3000

R = 9.5%

T = 10 year

A = ?

So,

I = PTR/100

=(3000×9.5×10)/100

=285000/100

= $2850

So,

I = A-P

I+P = A

$2850 + $3000 = A

so, A = $5850

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