# math

John Lee's savings account has a balance of \$4494. After 3 years, what will the amount of interest be at 5% compounded semiannually?

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1. I got \$674.10

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2. amount after 3 years at 5% pa compounded semiannually
= 4494(1.025)^6 = 5211.66

so interest = 5211.66-4494 = 717.66

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posted by Reiny
3. Thanks:)

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