Word problem
Amt after 1 year = 1200 (1+ .03/2) + 1200 = $2418
After 18 months....she has 2418(1 + .03/2) + 1200 = $3654.27
After two years she has 3654.27(1 + .03/2) + 1200 = $4909.08
Use this periodic formula for longer terms:
P=1200; R=0.03/2; N=2*2; FV=P*((1 + R)^N - 1)/ R
FV = $ 4909.08