Answer to Question #267354 in Financial Math for Ayana Prica

Question #267354

Mia Benson invested her summer earnings of R3 000 in a savings account which pays 2.5% interest. How much will this amount be in 6 months?

Expert's answer

"FV=PV(1+r)^n"

after 6 months:

"FV=3000(1+0.025)^{1\/2}=R\\ 3037.27"

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