Friday
April 18, 2014

Homework Help: Math

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!

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