SOLUTION: Jairo deposit $5600 in saving accounts that pays 4 1/2% interest, coumpounes semianually . What is the balance after two years?

SOLUTION: Jairo deposit $5600 in saving accounts that pays 4 1/2% interest, coumpounes semianually . What is the balance after two years?

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Question 1082124: Jairo deposit $5600 in saving accounts that pays 4 1/2% interest, coumpounes semianually . What is the balance after two years?
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!

is the future value,

is the initial principal,

is the interest rate as a decimal,

is the number of compounding periods in a year, and

is the number of years.

You can do the arithmetic

John

My calculator said it, I believe it, that settles it

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