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Ashley deposits $1000 into an account that earns 4% interest compounded 2 times per year. How much money will Ashley have in her account after 5 years? Round to the nearest cent…

Ashley deposits $1000 into an account that earns 4% interest compounded 2 times per year. How much money will Ashley have in her account after 5 years? Round to the nearest cent…
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4 votes
Ashley deposits $1000 into an account that earns 4% interest compounded 2 times per year. How much money will Ashley have in her account after 5 years? Round to the nearest cent. A. $1520.30 B. $1892.19 C. $1218.99 D. $1253.00

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User Richard Crane
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7.8k points

2 Answers

2 votes
A=1,000×(1+0.04÷2)^(2×5)
A=1,218.99
answered
User Oersted
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9.1k points
3 votes
That would be C. $1218.99 :)
answered
User Tiger Peng
by
8.6k points
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