SOLUTION: Please help me with this question: You deposit $1,000 in an account offering an 8% yield, compounded semi-annually. At the end of one year, your total earned interest is?

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: Please help me with this question: You deposit $1,000 in an account offering an 8% yield, compounded semi-annually. At the end of one year, your total earned interest is?      Log On


   

Question 117482:
Please help me with this question:
You deposit $1,000 in an account offering an 8% yield, compounded semi-annually. At the end of one year, your total earned interest is?
Answer by checkley71(8403) About Me  (Show Source):
You can put this solution on YOUR website!
I=PRT
I=1,000*.08*1
I=$80 IS THE INTEREST FOR 1 YEAR ON $1,000 INVESTED @ 8%.