Question

Alex wants to have $3000 in his bank account after 4 years. If the account earns 6% interest compounded 2 times per year, how much should he put in? Round to the nearest cent. A. $2863.32 B. $2238.36 C. $2633.82 D. $2368.23

Answer 1

3,000÷(1+0.06÷2)^(2×4)
=2,368.23