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27 October, 15:48

A deposit of $9,500 is made into a savings account which earns 5 1/10% interest compounded semi-annually. If no additional deposits or withdrawals are made, which amount is the total balance at the end of 4 years?

A) $11,620.07

B) $11,634.82

C) $11,639.79

D) $11,644.80

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Answers (1)
  1. 27 October, 16:11
    0
    Fv=9,500 * (1+0.005:2) ^ (8)

    Fv=9,691.67
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