2 years ago

Victoria invests $200 into an account with a 2.6% interest rate that is compounded semiannually.

Mathematics

1 answer:

Alex17521 [72]2 years ago

5 0

Answer:

A = $258.95

Step-by-step explanation:

First, convert R as a percent to r as a decimal

r = R/100

r = 2.6/100

r = 0.026 rate per year,

Then solve the equation for A

A = P(1 + r/n)nt

A = 200.00(1 + 0.026/2)(2)(10)

A = 200.00(1 + 0.013)(20)

A = $258.95

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