Question

Chau deposited $4000 into an account with 4.3% interest, compounded semiannually. Assuming that no withdrawals are made, how much will he have in the account after 4 years

Answer 1

$ 4,688.00

Explanation:

I = 4000 × 0.043 × 4 = 688

I = $ 688.00

$ 688.00 + $ 4,000.00 = $ 4,688.00