Ms. Lopez deposits $ 140 in an account that pays 20% interest, compounded semiannually. How much money will there be in the account at the end of one year? Select.
A) $118.00 B) $120.00 C) $169.40 D) $122.00 E) $140.00
Using Formula - A = P(1+r/n)^nt   Given   P=140   n=2   t=1   r=0.2   Substituting value in formula   A = 140(1+0.2/2)^2   A= 169.40$=$169.40
<result>C</result>
Ms. Lopez deposits $ 140 in an account that pays 20% interest, compounded semiannually. How much money will there be in the account at the end of one year?