Rachel deposited $200 into an account that earns 6% interest, compound twice a year for 10 years. A=P (1 + r n) n

She will have $361.22 after 10 years

Step-by-step explanation:

For the formula A = P (1 + r/n) ^ (nt),

r needs to be input as a decimal

n is the number of times the interest is compounded annually

t is how many years the interest compounded

P is the initial principle

A is the final amount of money in the account

For this problem ...

r = 0.06 (6% as a decimal)

n = 2 (compounded twice a year)

t = 10 (the money was left in for 10 years)

P = 200 (the initial principle)

A = final amount, we need to solve for this

Plug these values into the equation and solve for A

A = P (1 + r/n) ^ (nt) becomes A = 200 (1 + 0.06/2) ^ (2x10)

which simplifies to A = 200 (1.03) ^20

which simpifies to A = $361.22