Question

Jessica deposits $300 into a savings account that pays an annual interest rate of 2%, compounded twice a year. How much money will Jessica have in her account at the end of one year?

Answer 1

\[P = P_0 (1 + \frac{ r }{ n })^{nt}\]

Po is your inital value ( in your case 300)
r is your rate....in decimal form (2% = .02 right?)
n is the number of times per year the interest is compounded (in this case 2)
t is the number of years (in this case 1)

can you solve this from here?

Answer 2

yes