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3. Gavin deposited $200 into his savings account that is compounded semi-annually at an interest rate of 9%. Gavin hoped he would have enough money in 8 years to buy a $400 gaming console for college. Is Gavin correct? Write and solve an equation, showing your work to justify your answer.

I just need the equation.

User Rifky
by
7.2k points

2 Answers

2 votes

Answer:

Was it right?? Im doing this problem rn

Explanation:

User Atis
by
8.0k points
2 votes

His answer was correct:

(200*0.09)=18

18*16=288

200+288=488

User John Rizzo
by
8.0k points
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