Question

I need help with my homework question please. I’m not good at all with word problems

Answer 1

`A\text{ = \$1,498.38}`

Step-by-step explanation:

Here, we want to get the total amount in the account

From the given question:

P is the deposited amount which is $800

r is the interest rate which is 8% = 8/100 = 0.08

t is the number of years which is 8 years

n is the number of times interest is compounded yearly which is semi-annually which means twice (2)

Now, we need to get A

Substituting the values above, we have it that:

`\begin{gathered} A\text{ = 800(1 + }(0.08)/(2))^(8*2) \\ \\ A\text{ = \$1,498.38} \end{gathered}`