Mr. Peterson deposits $ 200 in an account that pays 20% interest, compounded semiannually. How much money will there be in the account at the end of one year?	Choose the most appropriate option:
A) $118.00  B) $120.00  C) $242.00  D) $122.00  E) $140.00
Using Formula - A = P(1+r/n)^nt   Given   P=200   n=2   t=1   r=0.2   Substituting value in formula   A = 200(1+0.2/2)^2   A= 242.00$=$242.00
<result>C</result>
Mr. Peterson deposits $ 200 in an account that pays 20% interest, compounded semiannually. How much money will there be in the account at the end of one year?