I need help with math?
give me the job and the response of Stanford, Jack $ 280 deposited in a savings account, vacation club, which paid 6 1 / 2% interest, compounded semiannually. if Jack does not make additional deposits, the amount will be in your account at the end of the year? thanks
A = P (1 + r / n) ^ (n * t) A = P = Principle future amount, R $ 280 = interest rate = 6 1 / 2% = 0.065 n = 2 (since compounded monthly) t = period time, 1 year of A = $ 280 (1 +0.065 / 2) ^ 2 A = 280 (1.066) = 298.5
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