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3 years ago

How much interest would an account earn if 3,000 is invested at an interest rate of 4.8% compounded semiannually for 2 years

Mathematics

1 answer:

Dafna11 [192]3 years ago

5 0

(See attached graphic)
Total = 3,000 * (1 + .048/2)^2*2
Total = 3,000 * (1.024)^4
Total = 3,000 * 1.0995116278 
Total = 3,298.53

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