Brian Invested $\$ 4000$ At an Interest Rate Of $5 \%$ For 10 Years, Where the Interest Was Compounded Semiannually

question 18

Multiple Choice

Brian invested $\$ 4000$ at an interest rate of $5 \%$ for 10 years, where the interest was compounded semiannually. If $A = P \left( 1 + \frac { r } { n } \right) ^ { n t }$ calculate the accumulated amount.

• A)$6,554.47
• B)$26,217.88
• C)$13,108.94
• D)$3,277.24

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Definitions:

Dividend

A portion of a company's earnings distributed to shareholders as a return on their investment.

Constant

An unchanging value in an equation or model, or a fixed value that does not vary over time.

Abbot Labs

A multinational healthcare company known for its wide range of medical devices, diagnostics, branded generic pharmaceuticals, and nutritional products.

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Shares of ownership in a company, representing a claim on the company's assets and earnings.