Question

Steve’s savings account has a balance of $1287. After 4 years, what will the amount of interest be at 6% compounded semiannually?

Answer 1

d

Explanation:

Answer 2

A = P (1 + r/n)^nt

A =1287 ( 1 + 0.06/2)^8

A= 1287 ( 1 + 0.03)^8

A= 1287 ( 1.03)^8

A = 1630.33

1630.33 - 1287 = 343.33

answer: interest will be $343.33