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November 29, 2014

November 29, 2014

Posted by **PHIL** on Saturday, May 18, 2013 at 8:39pm.

- ALGEBRA -
**MathMate**, Saturday, May 18, 2013 at 10:52pmUse compound interest formula:

Amount = Principal * (rate)^n

rate=interest rate per period

n=number of periods compounded.

Here

rate = 1+ 0.07/2=1.035

number of periods = 3 years * 2 periods/yr

principal=$7300

The question didn't say what's required.

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