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Anthony put $4,000 in a savings account with a fixed interest rate of 4.1% for three years. The interest is compounded semi-annually. How much money will be in the account after three years?
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Anthony put $4,000 in a savings account with a fixed interest rate of 4.1% for three years. The interest is compounded semi-annually. How much money will be in the account after three years?

User DJname
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1 Answer

2 votes

Answer:

you would have to multiply 4,000 by .041 every half a year for three years resulting in approximately $5090.55

Explanation:

User Sozhen
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