Posted by **Sharai** on Tuesday, March 13, 2007 at 8:06pm.

Find the amount in an account if $2,000 is invested at 6.125%,compounded semi-annually,for 2 years.

A)$2256.49

B)$2252.50

C)$2324.89

D)$544,757.84

Get yourself a pocket calculator or sharpen your pencil. The new amount will be

2000*(1.030625)^4

The 1.030625 factor is what the principal gets multipled by every 6 months. The answer is indeed one of the 4 choices. If is it D, tell me the name of the bank and I will put my money there.

Thanks I appreciate the help!

I needed a different calculator

I had the formula right

the answer is (A)

Right on!

## Answer this Question

## Related Questions

- Math - Find the amount in an account if $2000 is invested at 6.125%, compounded ...
- Math-- Desperate for help! - Find the amount in an account if $2000 is invested ...
- Algebra - Show how you substitute the values into the formula, then use your ...
- Compound interest - Hello My teacher skipped over this and I have no clue how to...
- Math - If 3000 dollars is invested in a bank account at an interest rate of 6 ...
- math - Find the amount that schould be invested now to accumulate following ...
- Calculus Please help! - If 7000 dollars is invested in a bank account at an ...
- math - Find the balance in an account that has $700 invested at 5.5% for 4 years...
- Math - On July 1, 1996, Anna invested $2000 in an account that earned 6%/a ...
- math - On July 1, 1996, Anna invested $2000 in an account that earned 6%/a ...

More Related Questions