#### davidneedsmathhelp

##### New member

- Joined
- May 19, 2019

- Messages
- 2

I am using this formula to calculate compound interest.

A = P (1 + r/n)^(nt)

Find the accumulated value of an investment of $10,000 for 7 years at an interest rate of 4.5% compounding semiannually.

When I divide 0.045 by 2, add 1, raise the result to the 9th power, and finally multiply 10000 by that result, I am getting 12,217.15, rounding to the nearest cent. The answer should be 13,654.83

Can someone tell me what I am doing wrong? Thanks!

A = P (1 + r/n)^(nt)

Find the accumulated value of an investment of $10,000 for 7 years at an interest rate of 4.5% compounding semiannually.

When I divide 0.045 by 2, add 1, raise the result to the 9th power, and finally multiply 10000 by that result, I am getting 12,217.15, rounding to the nearest cent. The answer should be 13,654.83

Can someone tell me what I am doing wrong? Thanks!

Last edited: