How much money will be in an account at the end of 6 years if $3,000 is deposited at 5% interest compounded 2 times per year?

Question

asked Jul 18, 2019 87.1k views

1 Answer

← Prev Question Next Question →

Ask a Question

Sevki · Answer 1 · 2019-07-23T11:43:50+0000

if it is simple interest then divide 3000 by 20 and you get 150 times that by two so you get 300 per year. after you times 300 by 6 you get 1800 so add that to 3000 you get 4800

How much money will be in an account at the end of 6 years if $3,000 is deposited at 5% interest compounded 2 times per year?

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

Please log in or register to add a comment.

No related questions found

Categories

Other Questions