Question 185407
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Let's see how much money you got after 3 years:
{{{F=P(1+i/m)^(mn)}}}
where{{{system(F=Future,P=Present=4494,i=Interest=0.05,n=Years=3,m=compounded/year=2/year)}}}
Substituting:
{{{F=4494(1+(0.05/2))^(2*3)}}}
{{{F=4494(1+0.025)^6}}}
{{{F=4494(1.025)^6=4494(1.15969)}}}
{{{F=5211.65}}}, 
Therefore, Amount of Interest = {{{F-P=5211.65-4494.00}}}=$717.65, ANSWER
Thank you,
Jojo</pre>