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A deposit of $9,500 is made into a savings account which earns 5 1/10% interest compounded semi-annually. If no additional deposits or withdrawals are made, which amount is the total balance at the end of 4 years?

A) $11,620.07
B) $11,634.82
C) $11,639.79
D) $11,644.80

User Elli
by
6.5k points

1 Answer

0 votes
Fv=9,500×(1+0.005÷2)^(8)
Fv=9,691.67
User Wakakak
by
7.1k points
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