Suppose that $5000 is deposited into an account that earns 3.5% interest compounded Semiannually. Let f(t) represent the value (in dollars) of the account at t years after depositing the $5000. Find the value of the account at t = 4 years. (Round your final answer to two decimal places }

Suppose that $5000 is deposited into an account that earns 3.5% interest compounded Semiannually. Let f(t) represent the value (in dollars) of the account at t years after depositing the $5000. Find the value of the account at t = 4 years. (Round your final answer to two decimal places }

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter6: Saving And Investing

Section6.1: Why Save?

Problem 6R

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Question

Suppose that $5000 is deposited into an account
that earns 3.5% interest compounded
Semiannually. Let f(t) represent the value (in dollars)
of the account at t years after depositing the
$5000. Find the value of the account at t = 4
years. {Round your final answer to two
decimal places }

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