# 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

Right on!

1. 👍
2. 👎
3. 👁

## Similar Questions

If 7000 dollars is invested in a bank account at an interest rate of 7 per cent per year. A) Find the amount in the bank after 6 years if interest is compounded annually? B) Find the amount in the bank after 6 years if interest is

2. ### Engineering Economy

Maintenance cost of an equipment is P20,000 for 2 years, P40,000 at the end of 4 years, and P80,000 at the end of 8 years. Compute the semi-annual amount that will be set aside for this equipment. Money worth 10% compounded

3. ### finance

Find the final amount in the following retirement account, in which the rate of return on the account and the regular contribution change over time. \$470 per month invested at 5%, compounded monthly, for 7 years; then \$709 per

4. ### Math

If 3000 dollars is invested in a bank account at an interest rate of 6 per cent per year, find the amount in the bank after 12 years if interest is compounded annually Find the amount in the bank after 12 years if interest is

1. ### math

If 3000 dollars is invested in a bank account at an interest rate of 9 per cent per year, find the amount in the bank after 5 years if interest is compounded annually

2. ### Math (Asap)

1. A 3,500.00 principal earns 3% interest, compounded semi annually. After 20 years, what is the balance in the account A. 7,700.00 B. 4,713.99 C. 5,600.00 D. 6,349.06 2. A boat costs 92,000.00 and depreciates in value by 15% per

3. ### math

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

4. ### Algebra ASAP

Suppose that \$17,000 is invested in a savings account paying 5.1% interest per year. (a) Write the formula for the amount A in the account after t years if interest is compounded monthly. A(t) = (b) Find the amount in the account

1. ### calculus

If 8000 dollars is invested in a bank account at an interest rate of 10 per cent per year, find the amount in the bank after 10 years if interest is compounded annually (a) b) Find the amount in the bank after 10 years if interest

2. ### Math

An initial amount of \$2900 is invested in an account at an interest rate of 4% per year, compounded continuously. Find the amount in the account after six years. Round your answer to the nearest cent.

3. ### UOG

An initial investment of \$12,000 is invested for 2 years in an account that earns 4% interest compounded quarterly. Find the amount of mnoey in the account at the end of the period.

4. ### math

Suppose that \$20000 is invested at 7% interest compounded annually. Find that amount of money in the account after 1 year? need it broken down in algebra