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Brenda invests $4,848 in a savings account with a fix annual interest rate of 5% compounded 2 times per year.what will the account balance be after 6 years?

Brenda invests $4,848 in a savings account with a fix annual interest rate of 5% compounded 2 times per year.what will the account balance be after 6 years?
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Brenda invests $4,848 in a savings account with a fix annual interest rate of 5% compounded 2 times per year.what will the account balance be after 6 years?

User Heartless Vayne
by
8.0k points

1 Answer

3 votes

A = P(1 + rt)

A= 4,848(1+.05*6)

A=6302.4

User Simpanoz
by
7.9k points
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