Posted by **Sara** on Wednesday, April 9, 2008 at 7:21pm.

Find the amount of money in the account at the end.

$1000.00, 4 years,

7% compounded semi-annually

A=P(1+r/n)^nt

r=0.07, t=4, P=$1000.00, n=2

A=P(1+r/n)^nt

A=$1000.00(1+0.07/2)^2-4

A=$1000(1.035)^8

A=$1000(1.316809037)

A=$1,316.809037

My answer is: A=$1316.81 is this right?

## Answer this Question

## Related Questions

- math - Suppose that you were saving money over 5 years to use in a purchase ...
- Math - An initial investment of $1000 is appreciated for 8 years in an account ...
- Calc Help - demand = (p+1)sqroot(q+1)=1000. Find elasticity of demand at a price...
- Calculas HS - continous compounding you have $1000 wiht which to open an account...
- differential equation - If P(t) is the amount of dollars in a savings bank ...
- pre calculus - Which is worth more after 5 years, an investment of $1000 at 5% ...
- Math - one Percentage increase / decrease formula in excel that full all the ...
- Math - one Percentage increase / decrease formula in excel that full all the ...
- Finance - Your Uncle has two alternative inheritence for you. A. You receive ...
- math - Daniel's bonus at work this year is $1000.00 added to 20% of his yearly ...