Mathematics: Aprincipal of $7,500 is invested in an account paying an annual rate of 5% find the amount in the account after 5 years if the account is compounded semi-annually quarterly and monthly the amount in the account after 5 years if the account is compounded semi-annually is

$1.40 * 0.8=1.12. 1.4+1.12=1.52. 1.52*0.25=$1.14. Your answer is $1.14....

Aprincipal of $7,500 is invested in an account - id75002609067, aneecia082203

HighSchool97654

04.01.2022

$9142.46

Step-by-step explanation:

Use the compounded interest formula: $A=P(1+\frac{r}{m} )^{m*t}$

Where

A is the accumulated amount after compounding (our unknown)

P is the principal ($7500 in our case)

r is the interest rate in decimal form (0.05 in our case)

m is the number of compositions per year (2 in our semi-annually case)

and t is the number of years (5 in our case)

$A=P(1+\frac{r}{m} )^{m*t}= 7500 (1+\frac{0.05}{2} )^{2*5} =9142.4581996....$

We round the answer to $9142.46

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