Homework Help: Pre-Algrebra

Posted by Samantha on Saturday, February 4, 2012 at 11:42am.

Alecia deposited $500 in a savings account at 5% compounded semiannually. What is her balance after 5 years?

Can you please show me step by step how to do this problem.

The choices are
$650.00
$640.04
$670.05
$897.93

Pre-Algrebra - bobpursley, Saturday, February 4, 2012 at 11:46am
you have 10 periods.

total=500(1+.05/2)^10=500(1.025)^10

Put this in your google Seearch window:

500(1.025)^10=

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