wendy made deposits of $900 semiannually to Trust Bank which pays 6% interest compounded semiannually. After 7 yrs Wendy makes no more deposits. What would be the balance in the account 8 yrs later from the last deposit?
I started w/900 x 2 = 1,800 /yr but then became confused ..at 6% interest compounded semiannually would it be 1800 @12% a yr for 7 yrs.
Please can you help?
I started w/900 x 2 = 1,800 /yr but then became confused ..at 6% interest compounded semiannually would it be 1800 @12% a yr for 7 yrs.
Please can you help?