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Hannah has deposited $742 in a savings account that earns interest at a rate of 3.9% compounded twice a year. What will the account balance be in 11 years?
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Hannah has deposited $742 in a savings account that earns interest at a rate of 3.9% compounded twice a year. What will the account balance be in 11 years?

User Amine Benatmane
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1 Answer

5 votes
This would be:-

Balance in 11 years = 742(1 + (0.039/2))^22

= $1134.81
User AmShaegar
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