Asked by Anonymous

Kelly plans to put her graduation money into an account and leave it there for 4 years while she goes to college. She receives $750 in graduation money and she puts it into an account that earns 4.25% interest compounded semi-annually. How much will be in kelly's account at the end of four years?
Answered by Reiny
amount = principal(1i)^n
i = .0425/2 = .02125 , n = 8 , principal = 750

amount = 750(1.02125)^8 = 887.40
Answered by Anonymous
Austin plans to put her graduation money into an account earning compound interest and leave it there for four years. She receives $750 in graduation money and put it into an account that earns 4.25% interest compounded annually. How much will be in Austin’s account at the end of four years?
There are no AI answers yet. The ability to request AI answers is coming soon!