Question

Compound Interest: Hannah is putting 10,000 dollars in the bank for 5 years at 6% p.a every 6 months what is her Final Balance?

Answer 1

I think you can solve it by doing this:

10(10,000+0.06)= Final Balance

6 months + 6 months = 1 year

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She has to pay twice a year


Now that we know that just multiply 2 by 5 and you get 10. 10(10,000+0.06)= Final Balance

So it should be 100000.6

Not sure if that's right so ask someone to check