SOLUTION: Shelly deposits $9200 at 5% interest semiannually find the amount after 2 pay periods of interest?

Question 1132508: Shelly deposits $9200 at 5% interest semiannually find the amount after 2 pay periods of interest?
Found 2 solutions by swillauer04, MathTherapy:
Answer by swillauer04(1) (Show Source): You can put this solution on YOUR website!
Set up a proportion x/9200= 5/100, simplify 5/100 to 1/20. Then, cross multiply the proportion x/9200= 1/20. You will get the equation 20x= 9200. Next, divide 20x by 20 to cancel out the coefficient, and using the division property of equality, divide 9200 by 20 as well. You will get the equation x= 460. Because you are trying to find a new value after depositing an initial value of 9200 and 2 interest payments of 460, you will get a new value/ sum of 10,120.
Answer by MathTherapy(10552) (Show Source): You can put this solution on YOUR website!

Shelly deposits $9200 at 5% interest semiannually find the amount after 2 pay periods of interest?

With semi-annual compounding interest: $9,665.75
With semi-annual simple interest: $9,660.00
RELATED QUESTIONS
Billy deposits $4500 at 12% interest monthly find the amount in the account after 4... (answered by addingup)
becky deposits $2100 at 8% interest quarterly find the amount in the account after 3... (answered by Alan3354)
Wanita deposits $8,320 at 1.25% interest quarterly find the amount after 1... (answered by MathLover1)
JOE deposits $7250 at 3.5% interest monthly find the amount after 4... (answered by Alan3354)
interest is compounded semiannually. Find the amount in the account after the given time: (answered by checkley77)
A person wants to deposit $10,000 per year for 6 years. If interest is earned at the rate (answered by Theo)
A person wants to deposit $10,000 per year for 6 years. If interest is earned at the... (answered by CPhill)
A person wants to deposit $10,000 per year for 6 years. If interest is earned at the... (answered by CPhill)
Find the final amount if $750 is invested at 5% interest compounded semiannually for 20... (answered by rfer)