Timothyle211 Timothyle211

04-03-2018
Mathematics

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How much interest would an account earn if 3,000 is invested at an interest rate of 4.8% compounded semiannually for 2 years

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wolf1728 wolf1728

04-03-2018

(See attached graphic)
Total = 3,000 * (1 + .048/2)^2*2
Total = 3,000 * (1.024)^4
Total = 3,000 * 1.0995116278
Total = 3,298.53

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