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henry opened a savings account and deposited $800. The account earns 3% interest compounded semiannually. What is the balance after 6 years? 

 May 12, 2016
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The balance in Henry's account after 6 years will be =$956.49.

The formula you would use here is this: FV=PV[1 + R ]^N, Where R=Interest rate per period, N=number of periods, PV=Present value, FV=Future value.

 May 12, 2016

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