# 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. 👍 0
2. 👎 0
3. 👁 117

## 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

asked by ALI on February 21, 2014
2. ### mathematics

John invests RM25000 in an account for 8 years. The investment account pays 8% compounded semi-annually for the first three years and 10% compounded quarterly for the rest of the period. i. Calculate the future value of the

asked by chun on June 19, 2020
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

asked by un on May 7, 2017
4. ### 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 11 years if interest is compounded annually ____ Find the amount in the bank after 11 years if interest

asked by Brit on August 22, 2011
5. ### 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

asked by tony on July 13, 2011
1. ### 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

asked by Fay on August 3, 2015
2. ### 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.

asked by Amy on April 9, 2013
3. ### Math

If \$6,700 is invested at 4.6% interest compounded semi-annually, how much will the investment be worth in 15 years?

asked by Dawane on May 30, 2014
4. ### Compound Interest : Future Value and Present Value

Payments of \$1800 and \$2400 weere made on a \$10,000 variable-rate loan 18 and 30 months after the date of the loan. The interest rate was 11.5% compounded semi-annually for the first two years and 10.74% compounded monthly

asked by Math on July 24, 2009
5. ### 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

asked by Anonymous on February 19, 2015
6. ### mathematics

On 16 April 2013, RM 2,000 was invested at 5% compounded semi annually. Find the amount accumulated on 16 October 2016 if the rate was changed to 8% compounded quarterly beginning 16 April 2014.

asked by chun on May 29, 2020