Ask Question
19 October, 18:32

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

+3
Answers (1)
  1. 19 October, 19:40
    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?
Find 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 the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers