SOLUTION: Find the final amount of money in an account if &4,700 is deposited at 4.5% interest compounded semi-annually and the money is left for 9 years.

SOLUTION: Find the final amount of money in an account if &4,700 is deposited at 4.5% interest compounded semi-annually and the money is left for 9 years.

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Question 737958:
Find the final amount of money in an account if &4,700 is deposited at 4.5% interest compounded semi-annually and the money is left for 9 years.
Answer by checkley79(3341) (Show Source): You can put this solution on YOUR website!
4500(1+.045/2)^9*2
4500(1+.0225)^18
4500(1.0225)^18
4500*1.4926=$6,716.64 ANS.
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