Math
posted by Sara .
Find the amount of money in the account at the end.
$1000.00, 4 years,
7% compounded semiannually
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)^24
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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