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Solve the Problem $4541\$ 4541 After 5 Years, What Will the Amount of Interest

Question 93

Multiple Choice

Solve the problem. Round to the nearest cent.
-John Lee's savings account has a balance of $4541\$ 4541 . After 5 years, what will the amount of interest be at 6%6 \% compounded semiannually?


A) $1535.88\$ 1535.88
B) $1362.30\$ 1362.30
C) $723.26\$ 723.26
D) $1561.72\$ 1561.72

Correct Answer:

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