1. bill ferny invested $51,300 at 4% interest compounded semiannually for 8 years. what is his ending
balance?

The ending balance in the account is $70383.6

Step-by-step explanation:

Given as :

The invested principal = $51,300

The compounded interest semiannually = 4%

The time period  = 8 years

Now from compounded method ,

Or,  

Or, Amount = $51,300 ×

Or, Amount = $51,300 × 1.372

∴    Amount = $70383.6

Hence, The ending balance in the account is $70383.6  Answer

step-by-step explanation:

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