Eva is picking fruit at a farm. The fees are $5 for entry to the farm, $2.50 per pound of blueberries, and $2 per pound of apple
2 answers:
You might be interested in
Answer:
Step-by-step explanation:
Since interest is compounded semi-annually (half a year or 6 months), in a spawn of 2 years, the interest will have been compounded 4 times. As given in the problem, each time the interest is compounded, the new balance will be 107% or 1.07 times the amount of the old balance.
Therefore, we can set up the following equation to find the new balance after 2 years: