document.write( "Question 430373: Can anyone help me with the following?
\n" ); document.write( "If you deposit $2500 in an account paying 4.5% interest compounded semiannually, how much will be in the account after 8 years? (Round to the nearest cent)
\n" ); document.write( "Thank you!! \n" ); document.write( "

Algebra.Com's Answer #853238 by ikleyn(53570) $\"\"$ $\"About$

You can put this solution on YOUR website!
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\n" ); document.write( "If you deposit $2500 in an account paying 4.5% interest compounded semiannually,
\n" ); document.write( "how much will be in the account after 8 years? (Round to the nearest cent)
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\n" ); document.write( "\n" ); document.write( " Calculations in the post by @mananth are presented incorrectly.\r
\n" ); document.write( "\n" ); document.write( " I came to bring a correct solution.\r
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document.write( "Principal P = 2500\r\n" );
document.write( "Interest rate = 4.5% = 0.045 compounded semiannually.\r\n" );
document.write( "years = 8.\r\n" );
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document.write( "Use the standard formula for the future value\r\n" );
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document.write( "    FV =  =  = 3569.05 dollars.\r\n" );
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document.write( "ANSWER.  In 8 years, the account will be $3569.05.\r\n" );
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\n" ); document.write( "\n" ); document.write( "Solved.\r
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\n" ); document.write( "\n" ); document.write( "I wrote this my post to overlay incorrect formulas in the post by @mananth,
\n" ); document.write( "that may confuse a reader.\r
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