SOLUTION: Eddie deposited $1200 into an account that earns 3% interest compounded 2 times per year. How much money will Eddie have in his account after 7 years? Round to the nearest cent.

Question 881326: Eddie deposited $1200 into an account that earns 3% interest compounded 2 times per year. How much money will Eddie have in his account after 7 years? Round to the nearest cent.
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
In General
A = Accumulated Amount
P= principal = 1200
r= annual rate = .03
n= periods per year = 2
t= years = 7

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