Answer:
She will have $361.22 after 10 years
Step-by-step explanation:
For the formula A = P(1 + r/n)^(nt),
r needs to be input as a decimal
n is the number of times the interest is compounded annually
t is how many years the interest compounded
P is the initial principle
A is the final amount of money in the account
For this problem...
r = 0.06 (6% as a decimal)
n = 2 (compounded twice a year)
t = 10 (the money was left in for 10 years)
P = 200 (the initial principle)
A = final amount, we need to solve for this
Plug these values into the equation and solve for A
A = P(1 + r/n)^(nt) becomes A = 200(1 + 0.06/2)^(2x10)
which simplifies to A = 200(1.03)^20
which simpifies to A = $361.22
