You invest $720 in an account that has an annual interest rate of 6.2%, compounded semiannually. How much money will be in the account after 5 years?

Amount(t) = Initial(1 + rate/number of compounds)^number or compounds * time
so A = P(1+r/n)^nt. [ In this, P = 720, n = 2, r = .062, t = 5.
so A = 720(1+.062/2)^(5*2) = 720(1.031)^10 = 977 dollars. ]

Expert answered|Marvel2|Points 702|

Question

Asked 7/5/2013 5:01:31 AM

0 Answers/Comments

Rating

There are no new answers.

What are the next 3 terms in the following sequence?2.3, 6.6, 10.9,___,___,__ **Weegy:** The answer is 15.2, 19.5, 23.8. (More)

Question

Expert Answered

Asked 6/28/2013 8:57:02 PM

0 Answers/Comments

Find the sum of the infinite series if it exists. If it exists, round to one decimal place. If it does not exist, type none. 4 + 3.2 + 2.56 + 2.048 +... **Weegy:** None. (More)

Question

Expert Answered

Asked 6/28/2013 9:33:01 PM

0 Answers/Comments

What is the common ratio of the following sequence?8, 64, 512, 4096Type **Weegy:** 8 is the common ratio for sequence 8, 64, 512, 4096. (More)

Question

Expert Answered

Asked 6/28/2013 10:41:59 PM

0 Answers/Comments

What is the common ratio of the following sequence?7, 21, 63, 189 **Weegy:** The common ratio of the sequence 7, 21, 63, 189 is 3. (More)

Question

Expert Answered

Asked 6/28/2013 10:47:01 PM

0 Answers/Comments

What are the next three terms of the following sequence?-10, 20, -40, 80,___,___,___ **Weegy:** What are the next three terms of the following sequence?-10, 20, -40, 80, -70, 140, -100. (More)

Question

Expert Answered

Asked 6/28/2013 10:50:11 PM

0 Answers/Comments

22,413,999 questions answered

There are no comments.