SOLUTION: How much interest would you earn in 4 years if you invested $500 in an account that pays 4.5% per annum, compounded semi-annually?

SOLUTION: How much interest would you earn in 4 years if you invested $500 in an account that pays 4.5% per annum, compounded semi-annually?

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Question 397631: How much interest would you earn in 4 years if you invested $500 in an account that pays 4.5% per annum, compounded semi-annually?
Answer by robertb(5830) (Show Source): You can put this solution on YOUR website!
The balance after 4 years would be .
Then the interest should be 597.42 - 500 = 97.42.
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