ChristianneN334396 ChristianneN334396
  • 28-10-2022
  • Mathematics
contestada

$1250 is invested at a rate of 5.7% that is compounded semiannually how much money is in the account after 3 years

Respuesta :

YuvaanO219030 YuvaanO219030
  • 28-10-2022

Using the formula

[tex]A=p(1+\frac{r}{n})^{nt}[/tex]

From the question,

P=$1250 r=0.057 t=3 n=2

Substitute the values into the formula and evaluate

[tex]A=1250(1+\frac{0.057}{2})^{2\times3}[/tex][tex]=1250(1+0.0285)^6[/tex][tex]=1250(1.0285)^6[/tex][tex]=\text{ \$1479.57}[/tex]

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