Ms. Lovely deposits $ 300 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.
A) $118.00
B) $120.00
C) $121.00
D) $122.00
E) $140.00
Using Formula - A = P(1+r/n)^nt   Given   P=300   n=2   t=1   r=0.2   Substituting value in formula   A = 300(1+0.2/2)^2   A= 363.00$=$121.00
<result>C</result>
Ms. Lovely deposits $ 300 in an account that pays 20% interest, compounded semiannually. How much money will there be in the account at the end of one year?