document.write( "Question 161707: can someone help me with this problem please:\r
\n" ); document.write( "\n" ); document.write( "Find the compound interest earned by the deposit. Round to the nearest cent.\r
\n" ); document.write( "\n" ); document.write( "$3000 at 12% compounded semiannually for 10 years\r
\n" ); document.write( "\n" ); document.write( "a. 2372.54
\n" ); document.write( "b. 6621.41
\n" ); document.write( "c. 3600.00
\n" ); document.write( "d. 6317.54
\n" ); document.write( "

Algebra.Com's Answer #119181 by josmiceli(19441)\"\" \"About 
You can put this solution on YOUR website!
The formula is:
\n" ); document.write( "\"A+=+P%2A%281+%2B+%28r%2Fn%29%29%5E%28nt%29\"
\n" ); document.write( "\"P\"= original amount
\n" ); document.write( "\"A\"= amount after \"t\" years
\n" ); document.write( "\"r\"= interest rate
\n" ); document.write( "\"n\"= number of times per year the interest is compounded
\n" ); document.write( "--------------
\n" ); document.write( "\"P+=+3000\"
\n" ); document.write( "\"t+=+10\"
\n" ); document.write( "\"n+=+2\"
\n" ); document.write( "\"r+=+.12\"
\n" ); document.write( "\"A+=+3000%2A%281+%2B+%28.12%2F2%29%29%5E%282%2A10%29\"
\n" ); document.write( "\"A+=+3000%2A%281+%2B+.06%29%5E20\"
\n" ); document.write( "\"A+=+3000%2A%281.06%29%5E20\"
\n" ); document.write( "\"A+=+3000%2A3.207\"
\n" ); document.write( "\"A+=+9621.41\"
\n" ); document.write( "Interest earned = \"A+-+P\"
\n" ); document.write( "\"9621.41+-+3000+=+6621.41\"
\n" ); document.write( "The answer is (b)
\n" ); document.write( "
\n" );