Question

Need help with math word problem please help I’m not at all good with equations like this

Answer 1

It is given that,

`\begin{gathered} T\text{ = 6 years} \\ R\text{ = 5 \% = 0.05} \\ P\text{ = \$ 800} \end{gathered}`

The amount is calculated as,

`\begin{gathered} A\text{ = P(1+}(R)/(2))^(2n) \\ A\text{ = 800 }*\text{ ( 1 + }(0.05)/(2))^(2*6) \\ A\text{ = 800 }*\text{ (}(2.05)/(2))^(12) \end{gathered}`

Simplifying further,

`\begin{gathered} A=\text{ 800 }*\text{ }(1.025)^(12) \\ A\text{ = 800 }*\text{ 1.3449} \\ A\text{ = 1075.92} \end{gathered}`

Thus the amount after six years is $ 1075.92.