irelandcrawford1073 irelandcrawford1073
  • 28-11-2020
  • Mathematics
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An account is opened with an initial deposit of $700 and earns 3.3% interest compounded semi-annually. What will the account be worth in 3 years? Round your answer to the nearest cent.

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sergiogomez123856
sergiogomez123856 sergiogomez123856
  • 28-11-2020

Answer:

772.22

Step-by-step explanation:

A=$700(1+0.0332)2(3). Simplify using the order of operations: A=$700(1.0165)6=$700(1.103174712)≈$772.22.

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