Question

How much money will be in an account at the end of 6 years if $3,000 is deposited at 5% interest compounded 2 times per year?

Answer 1

Answer:

Total = Principal * (1 + [rate/2])^2*6

Total = 3,000 * (1.025)^12

Total = 3,000 * 1.3448888242

Total = 4,034.67

Source: https://www.1728.com/compint3.htm

Step-by-step explanation: