Question

Omar deposited $4000 into an account with 3.3% interest, compounded semiannually. Assuming that no withdrawals are made, how much will he have in the account after 5 years? Do not round any intermediate computations, and round your answer to the nearest cent.

Answer 1

Answer:

4711.22

Step-by-step explanation:

$A=P(1+\frac{r}{n} )^{nt}\\\\A=4000(1+\frac{0.033}{2}) ^{2*5}\\\\A=4711.22$