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Paraphin [41]
4 years ago
5

Help? Hello Help me please

Mathematics
1 answer:
Ierofanga [76]4 years ago
5 0

Answer:

  $562.75

Step-by-step explanation:

The future value formula is good for this.

  FV = P(1 +r/n)^(nt)

where principal P is invested at annual rate r compounded n times per year for t years.

Using your numbers, we find the account value to be ...

  FV = $500(1 +.06/2)^(2·2) = $500·1.03^4 ≈ $562.75

There will be $562.75 in the account after 2 years.

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