Question

Keiko deposited $4000 into an account with 4.6% interest, compounded semiannually. Assuming that no withdrawals are made, how much will she have in the account after 6 years? Do not round any intermediate computations, and round your answer to the nearest cent.

          Keiko deposited $4000 into an account with 4.6% interest, compounded semiannually. Assuming that no withdrawals are made, how much will she have in the account after 6 years?
Do not round any intermediate computations, and round your answer to the nearest cent.

Keiko deposited 4000 into an account with 4.6% interest, compounded semiannually. Assuming that no withdrawals are made, how much will she have in the account after 6 years?
Do not round any intermediate computations, and round your answer to the nearest cent.

Added by Nicole L.

Elementary and Intermediate Algebra

Alan S. Tussy, R. David Gustafson 5th Edition

Instant Answer

Solved by Expert Kathleen Carty

04/30/2022

Step 1

There are 2 compounding periods per year, so the total number of compounding periods is 2 * 6 = 12. Show more…

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Keiko deposited $4000 into an account with 4.6% interest, compounded semiannually. Assuming that no withdrawals are made, how much will she have in the account after 6 years? Round your answer to the nearest cent. Keiko deposited $4000 into an account with 4.6% interest, compounded semiannually. Assuming that no withdrawals are made, how much will she have in the account after 6 years? Do not round any intermediate computations, and round your answer to the nearest cent.