Question

11. Semiannual and other compounding periods Semiannual compounding implies that interest is compounded times per year. You have deposited $96,780 into an account that will earn an interest rate of 12% compounded semiannually. How much will you have in this account at the end of 10 years? $356,944.56 $248,309.26 $310,386.57 $372,463.88

          11. Semiannual and other compounding periods
Semiannual compounding implies that interest is compounded
times per year.
You have deposited $96,780 into an account that will earn an interest rate of 12% compounded semiannually. How much will you have in this account
at the end of 10 years?
$356,944.56
$248,309.26
$310,386.57
$372,463.88

11. Semiannual and other compounding periods
Semiannual compounding implies that interest is compounded
times per year.
You have deposited 96,780 into an account that will earn an interest rate of 12% compounded semiannually. How much will you have in this account
at the end of 10 years?356,944.56
248,309.26310,386.57
372,463.88

Added by Cristian L.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

Instant Answer

Solved by Expert Rahul Mahato

Step 1

The interest rate is 12%, so we need to divide it by 100 to convert it to a decimal. 12% divided by 100 = 0.12 Show more…

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$372,463.88 $310,386.57 $248,309.26 $356,944.56. A lot of you put in a semiannual compounding implies that interest is compounded. You have deposited $96,700 into an account that will earn an interest rate of 12% compounded times per year. Compounded semiannually. How much will you have in this account?