Question

Principle: $ 250 Rate: 2.5% compounded Semiannually Time: 1.5 yr(s) *
Your answer

Answer 1

A=259.43

Explanation:

First, convert R as a percent to r as a decimal

r=R/100

r=2.5/100

r=0.025 rate per year,

then solve the equation for A

A=P(1+r/n)

A=250.00(1+0.025/1)

A=250.00(1+0.025)

A=$259.43