Question

Ashley deposits $2000 in a savings account that pays 8% interest compounded semiannually. What is her balance after one year.

Answer 1

Answer:

$2163.20

Step-by-step explanation:

Formula:

$AV=PV(1+\frac{i}{n})^{n*t}}\\2000(1+\frac{.08}{2})^{2*1}\\2000*1.04^2=2163.2$