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Suppose that you deposit $5,000 in a bank account that yields an annual percentage rate (APR)...

Suppose that you deposit $5,000 in a bank account that yields an annual percentage rate (APR) of 6%. How much will the balance be at the end of a two-year period if the interest is paid semi-annually (that is, twice a year)?


a. 5618.0 b. 5627.54 c. 6312.38 d. 5304.50

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Answer #1

We know the compound interest bamula A = P(trjut where P= Principal r = interest rate (decimalo) n = numbe & dr times interesIf you don't understand please comment

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