233k views
3 votes
Can you help me solve? Sarah deposited $1,400 for one year at 10% compounded semi-annually. a. How many times was interest added to Sarah's account? (The lesson is on Compound Interest)

User Dotalchemy
by
8.0k points

1 Answer

4 votes

Given the following question:

Sarah deposited $1400 for one year

10% compounded semi-annually

Semi-annually means twice a year or it occurs twice in a year.

Since semi-annually means twice a year we know that the amount of times interest was added to Sarah's account was twice a year.

How many times was interest added to Sarah's account?

A: Two times

User Kartheepan
by
8.7k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories