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The equation, A equal to P quantity 1 plus 0.054 over 2 end quantity all raised to the power of 2 times t, represents the amount of money earned on a compound interest savings account with an annual interest rate of 5.4% compounded semiannually. If the initial investment is $3,000, determine the amount in the account after 15 years. Round the answer to the nearest hundredths place.

$3,164.19
$6,671.67
$4,473.81
$14,532.47

User Peterdotjs
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Answer:

The correct answer is $6,671.67

User Jblaske
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