# Determine the algebraic modeling How much money will there be in an account at the end of 7 years if $2000 is deposited at displaystyle{4}% interest compounded serni-annually? Joni Kenny 2020-12-13 Answered Determine the algebraic modeling How much money will there be in an account at the end of 7 years if$2000 is deposited at $4\mathrm{%}$ interest compounded serni-annually?
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Given data,
$t=7$ years
$P=2000$
$|><=4\mathrm{%}=0,04$
$n=2$ (semi-anually)
$A=P{\left(1+\frac{|><}{n}\right)}^{t}n$
$=2000{\left(1+\frac{0,04}{2}\right)}^{2+7}$
$=2000{\left(1+0,02\right)}^{14}$
$=2638,96$

$A=\mathrm{}2639$

The amoun $a\mathtt{|}><7$ years is \$ 2639

Jeffrey Jordon