Homework Help: Algebra

Posted by Diane on Monday, May 28, 2012 at 3:57pm.

If $625 is invested in an account that earns annual interest of 5.5%, compounded semiannually, what will the account balance be after 8 years? (Round your answer to the nearest cent.)

Algebra - MathMate, Monday, May 28, 2012 at 8:52pm
625*(1+0.055/2)^(8*2)

Answer this Question

Related Questions

ALGEBRA - If $835 is invested in an account that earns annual interest of 4.5%, ...
ALGEBRA - If $835 is invested in an account that earns annual interest of 4.5%, ...
ALGEBRA - If $835 is invested in an account that earns annual interest of 4.5%, ...
ALGEBRA - If $450 is invested in an account that earns annual interest of 3.5%, ...
math - If $425 is invested in an account that earns annual interest of 7.5%, ...
algreba with application - If $795 is invested in an account that earns annual ...
algebra - Bob has $4000 invested in an account that earns 4.75% simple interest...
math - An initial deposit of $5000 earns 5.5% annual interest compounded ...
Math - An initial deposit of $5000 earns 5.5% annual interest compounded ...
Algebra - An initial investment of $480 is invested for 4 years in an account ...

For Further Reading

First Name:
School Subject:
Answer: