Ms. Lopez deposits $ 150 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 correct choice from the following choices.
A) $118.00 B) $120.00 C) $181.15 D) $122.00 E) $140.00
Using Formula - A = P(1+r/n)^nt   Given   P=150   n=2   t=1   r=0.2   Substituting value in formula   A = 150(1+0.2/2)^2   A= 181.15$=$181.15
<result>C</result>
Ms. Lopez deposits $ 150 in an account that pays 20% interest, compounded semiannually. How much money will there be in the account at the end of one year?