Question

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

Answer 1

That would be C. $1218.99  :)

Answer 2

A=1,000×(1+0.04÷2)^(2×5)
A=1,218.99