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Find the balance in the account.

$4,100 principal earning 2.25%, compounded semi-annually, after 12 years

a. $5,362.76

b. $5,354.80

c. $4,689.07

d. $100,614.00

Respuesta :

sreedevi102

Answer:

[tex]A = P(1 +\frac{r}{n})^{nt}[/tex]

P = 4100

r = 2.25% = 0.0225

n= 2

t= 12

[tex]A = 4100(1 + \frac{0.0225}{2})^{24}\\[/tex]

   [tex]= 4100 *1.01125^{24}\\\\= \$ 5362.76[/tex]

Option a.

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