Asked by Tia

1. A 3,500.00 principal earns 3% interest, compounded semi annually. After 20 years, what is the balance in the account
A. 7,700.00
B. 4,713.99
C. 5,600.00
D. 6,349.06


Steve, I got the second one. It was 18,112.45. But I still cannot get the first one.

Answered by Steve
well, you should have caught my typo. I used 3.5% instead of 3%. Fix it and redo the calculation.
Answered by jeff
yeah
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