Question

How much money will be in an account at the end of 6 years if $3,000 is deposited at 5% interest compounded 2 times per year?

Answer 1

if it is simple interest then divide 3000 by 20 and you get 150 times that by two so you get 300 per year. after you times 300 by 6 you get 1800 so add that to 3000 you get 4800