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?

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