document.write( "Question 1165364: Rhonda deposits $5,600 in a savings account that pays 1.5% interest, compounded semi-annually. What would her ending balance be after 4 years? Round to the nearest cent.
\n" ); document.write( " \n" ); document.write( "

Algebra.Com's Answer #789851 by ikleyn(52776) $\"\"$ $\"About$

You can put this solution on YOUR website!
.
\n" ); document.write( "

\r\n" );
document.write( "\r\n" );
document.write( "f = p * (1 + r) ^ n\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "f is the future value\r\n" );
document.write( "p is the present value (one-time original deposit)\r\n" );
document.write( "r is the interest rate per time period as a decimal number\r\n" );
document.write( "n is the number of time periods.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "in your problem:\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "p = 5600\r\n" );
document.write( "f = what you want to find\r\n" );
document.write( "r = 1.5% / 2  = .0075 semi-annually\r\n" );
document.write( "n = 4*2 semi-annual periods\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "formula becomes f =  = 5944.95 dollars.    ANSWER\r\n" );
document.write( "

\r
\n" ); document.write( "\n" ); document.write( "Solved.\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "--------------\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "To see many other similar solved problems on compounded interest accounts, look into the lesson\r
\n" ); document.write( "\n" ); document.write( " - Compound interest percentage problems \r
\n" ); document.write( "\n" ); document.write( "in this site.\r
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

\n" );