How much interest does the account earn in the first six mmonth is $168.75
First step is to calculate the future amount Using this formula
A = P(1+r/n)^nt
Where:
A represent Future amount
P represent Principal investment =$4,500
r represent Interest rate as a decimal = .075
n represent Number times compounded each year = 2
t represent Time in years = 1/2
Let plug in the formula
A = $4,500(1+.075/2)2(.5)
A= $4,500(1.0375)
A=$4,668.75
Now let determine much interest does the account earn in the first six mmonth
Using this formula
I = A-P
Let plug in the formula
I = $4,668.75 - $4,500
I = $168.75
Inconclusion How much interest does the account earn in the first six month is $168.75
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