Question

Omar deposited $4000 into an account with 3.3% interest, compounded semiannually. Assuming that no withdrawals are made, how much will he have in the account after 5 years? Do not round any intermediate computations, and round your answer to the nearest cent.

Answer 1

4711.22

Explanation:

`A=P(1+(r)/(n) )^(nt)\\\\A=4000(1+(0.033)/(2)) ^(2*5)\\\\A=4711.22`