ir an account has 2000and it is invested @6.125% compounded semi-annually, for 2 years.

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- August 7th 2005, 03:46 PMSteves5aWord Problems
ir an account has 2000and it is invested @6.125% compounded semi-annually, for 2 years.

- August 9th 2005, 06:24 AMmizzou
the formula for compound interest is: A=P(1+r/n)^tn

A is the total amount earned after the period of time

P is the principal or starting amount of money

R is the rate

n is the numper of times it is compounded annually i.e. quarterly n=4

t is the time in years that the money is invested

try plugging your information into the formula and see what you get