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Interest is compounded semianually. Find the amount in the account after the given time.

Interest is compounded semianually. Find the amount in the account after the given time.
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15 votes
Interest is compounded semianually. Find the amount in the account after the given time.

Interest is compounded semianually. Find the amount in the account after the given-example-1
User Peter Nixey
by
9.5k points

1 Answer

9 votes

Answer:

5,630.81$

A = 5000(1 + (0.04 × 3)) = 5600

A = $5,630.81

User Zetta
by
8.7k points
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