To calculate the total amount in the account after 5 years with compound interest, we can use the formula for compound interest:
\[ A = P \left(1 + \frac{r}{n}\right)^{nt} \]
where:
- \(A\) = the amount of money accumulated after n years, including interest.
- \(P\) = the principal amount (the initial deposit).
- \(r\) = the annual interest rate (decimal).
- \(n\) = the number of times that interest is compounded per year.
- \(t\) = the number of years the money is invested or borrowed.
Given:
- \(P = 100\) (the initial deposit)
- \(r = 0.07\) (the interest rate of 7%)
- \(n = 2\) (since interest is compounded twice a year)
- \(t = 5\) (the number of years)
Now, let's plug in these values into the formula:
\[ A = 100 \left(1 + \frac{0.07}{2}\right)^{2 \times 5} \]
Calculating the components:
- Calculate \(\frac{0.07}{2} = 0.035\).
- Then calculate \(1 + 0.035 = 1.035\).
- Calculate \(nt = 2 \times 5 = 10\).
- Now raise \(1.035\) to the power of \(10\):
\[ 1.035^{10} \approx 1.4106 \]
- Finally, multiply by the principal amount:
\[ A \approx 100 \times 1.4106 \approx 141.06 \]
Rounding to the nearest dollar, the total amount in the account after 5 years will be approximately:
\[ \text{$141} \]
So, the answer is:
\[ \boxed{141} \]