SOLUTION: $720 earning 6.2% interest compounded semiannually for 5 years

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Question 307881: $720 earning 6.2% interest compounded semiannually for 5 years
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!

Formula for Amount at the end of frame time
P=c(1+r/n)^n*t
C= $730
r= 6.2%
n=2
t=5
P= 730(1 + 0.062/2)^2*5
= $990.62
Interest = $260.62