Question

How much money must be deposited to T

Answer 1

Answer:

First, converting R percent to r a decimal

r = R/100 = 5.5%/100 = 0.055 per year.

Putting time into years for simplicity,

6 months / 12 months/year = 0.5 years.

Solving our equation:

A = 200(1 + (0.055 × 0.5)) = 205.5

A = $205.50

Step-by-step explanation: