Ashley deposited $4000 into an account with 2.5% interest, compounded semiannually. Assuming that no

Discussion in 'Calculator Requests' started by math_celebrity, Apr 12, 2021.

  1. math_celebrity

    math_celebrity Administrator Staff Member

    Ashley deposited $4000 into an account with 2.5% interest, compounded semiannually. Assuming that no withdrawals are made, how much will she have in the account after 10 years?

    Semiannual means twice a year, so 10 years * 2 times per year = 20 periods. We use this and plug the numbers into our compound interest calculator to get:
    $5,128.15
     

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