18,000 at 9% compounded semiannually for 6 years. Find the total value of the investment after the time given.

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18,000 at 9% compounded semiannually for 6 years. Find the total value of the investment after the time given.

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    2021-10-15T01:36:41+00:00

    \bf ~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad  \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\to &\$18000\\ r=rate\to 9\%\to \frac{9}{100}\to &0.09\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{semi-annual, thus twice} \end{array}\to &2\\ t=years\to &6 \end{cases} \\\\\\ A=18000\left(1+\frac{0.09}{2}\right)^{2\cdot 6}\implies A=18000(1.045)^{12}

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