SOLUTION: An initial deposit of $3,000 earns 6% interest, compounded twice a year. How much will be in the account in three years? (Give your answer correct to the nearest cent.)

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Question 326224: An initial deposit of $3,000 earns 6% interest, compounded twice a year. How much will be in the account in three years? (Give your answer correct to the nearest cent.)
Answer by solver91311(24713) About Me  (Show Source):
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The Future Value, , of a one-time investment of at percent interest for time periods compounded times per time period is given by:



Plug in your numbers:



Get out your calculator and get to punching buttons.

John