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|

Rating

There are no new answers.

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

What are the next three terms of the following sequence?-10, 20, -40, 80,___,___,___ **Weegy:** The next three terms for the sequence -10, 20, -40... are 80, -160, 320. The common ratio is -2. (More)

Question

Expert Answered

Asked 6/28/2013 10:52:17 PM

0 Answers/Comments

26,601,539 questions answered

There are no comments.