If $24,000 Is Invested in a Savings Account Yielding 6

question 89

Short Answer

If $24,000 is invested in a savings account yielding 6% per year, compounded semiannually, how fast is the balance growing after 2 years

Please enter your answer as a number (in $ per year) without the units. Round your answer to two decimal places.

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Definitions:

Prejudice

A preconceived opinion or bias against an individual or group without just grounds or sufficient knowledge.

Negative Opinions

Unfavorable or critical views and judgments formed about something or someone, often without full knowledge or experience.

Knowledge Workers

Employees whose primary job involves handling or using information and knowledge, rather than manual labor.

Information Technology

The use of computers, networks, and other physical devices, infrastructure and processes to collect, process, store, secure, and exchange all forms of electronic data.