SOLUTION: Find the amount of money in an account after 3 years if $1400 is deposited at 4% annual interest compounded semi-annually.

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Question 288251: Find the amount of money in an account after 3 years if $1400 is deposited at 4% annual interest compounded semi-annually.


Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
FV=1400(1+.04/2)^3*2
FV=1400(1.12162419)
FV=$1576.63