victoria invests 300 dollars into an account with 2.5% interest rate that is compounded semiannually. how much money will she have in this account if she keep it for 5 years

Solution

Solution

Amount : 339.68

Solution steps

Translate the problem into an equation:

A = 300 (1 + \frac{0.025}{2})^{2 \cdot 5}

300 (1 + \frac{0.025}{2})^{2 \cdot 5} = 339.68124 \dots

Round to the nearest hundredth:

339.68

Amount : 339.68

Popular Examples

The difference of 25 and three times a number is-14. What is the number?How long does it take an account with a principal of 600 to earn 120 in interest at a simple annual interest rate of 4%?the larger of two numbers is 12 more than the smaller. their sum is 84. find te numbers eleven more than a number is seven “The sum of negative 12 and a number is negative fifteen.