# Math

Find the amount in an account if \$2,000 is invested at 6.125%,compounded semi-annually,for 2 years.

A)\$2256.49
B)\$2252.50
C)\$2324.89
D)\$544,757.84

Get yourself a pocket calculator or sharpen your pencil. The new amount will be
2000*(1.030625)^4
The 1.030625 factor is what the principal gets multipled by every 6 months. The answer is indeed one of the 4 choices. If is it D, tell me the name of the bank and I will put my money there.

Thanks I appreciate the help!
I needed a different calculator
I had the formula right
the answer is (A)

Right on!

1. 👍 0
2. 👎 0
3. 👁 38

## Similar Questions

1. ### math

Romy invested \$5,000 into an account that pays 5% compound semi-annually. He intended to keep the account untouched for five years. However, after three years he had to withdraw \$3,000. Find the amount left in the account five

asked by Lula on May 5, 2018
2. ### Algebra

Show how you substitute the values into the formula, then use your calculator. *Use A = P(1+r/n)nt to find the amount of money in an account after t years, compounded n times per year. *Use I = Prt to find the amount of simple

asked by Sylvie on February 3, 2013
3. ### math

Find the balance in an account that has \$700 invested at 5.5% for 4 years compounded semi-annually.

asked by dylan on July 9, 2012
4. ### Math

A bank account was opened with a deposit of \$2750 at an APR of 3.5% compounded one of the following ways. Find the amount in this account after 6 years with compounding of: (round answers to nearest 100th) annually: \$

asked by Adam on March 23, 2017
5. ### math

A bank account was opened with a deposit of \$2750 at an APR of 3.5% compounded one of the following ways. Find the amount in this account after 6 years with compounding of: (round answers to nearest 100th) annually: \$

asked by Tyreice on March 18, 2017
6. ### Math

Find the amount in an account if \$2000 is invested at 6.125%, compounded semi-anually,for 2 years. 2000* (1.030625)^4 = / That is what you get by adding 3.0625% to the principal every 6 months, and compounding 4 times I Am getting

asked by Penny on February 26, 2007
7. ### Compound interest

Hello My teacher skipped over this and I have no clue how to do this or the equations. Help would be wonderful thank you If 6000 dollars is invested in a bank account at an interest rate of 10 per cent per year, find the amount in

asked by someone on May 12, 2012
8. ### Algebra

Suppose that P dollars are invested in a savings account at interest rate I, compounded annually, for 2 years. The amount A in the account after 2 years is given by A = P(1 + i)^2. Find an equivalent polynomial expression for A.

asked by Cassie on April 16, 2009