Question

Alex wants to have $2500 in his bank account after 2 years. If the account earns 5% interest compounded 2 times per year, how much should he put in? Round to the nearest cent. A. $2042.36 B. $2183.45 C. $2264.88 D. $2324.08

Answer 1

2,500÷(1+0.05÷2)^(2×2)
=2,264.88

Answer 2

I think the answer is A. 2042.36