Elena is thinking about putting $200 in a savings account that earns 4% interest compounded semiannually. She wants to keep that
money in the account for 4 years. Which of the formulas below can help her calculate how much money she will have at the end of the 4 years? A. $200(1 + 0.02)8
B. $200(1 + 0.04)4
C. $200(1 + 0.02)4
D. $200(1 + 0.08)2
I’m not 100% bc/ I learned this last semester, but I think it’s B. So sorry if I’m wrong. I think this bc/ 0.04 is the interest rate as a percent, 4 is the time, 200 is the amount of money, and the one shows that it is exponential growth.