Ask Question
20 June, 07:41

Steve's savings account has a balance of $1287. After 4 years, what will the amount of interest be at 6% compounded semiannually?

+5
Answers (1)
  1. 20 June, 11:31
    0
    A = P (1 + r/n) ^nt

    A = 1287 (1 + 0.06/2) ^8

    A = 1287 (1 + 0.03) ^8

    A = 1287 (1.03) ^8

    A = 1630.33

    1630.33 - 1287 = 343.33

    answer: interest will be $343.33
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Steve's savings account has a balance of $1287. After 4 years, what will the amount of interest be at 6% compounded semiannually? ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers