Question

Just want to check over my answer. If someone can come, I'll appreciate it :) Don't forget medal :)

Answer 1

Is it $800 ?

Answer 2

yeah

Answer 3

Compound Interest is calculated by:

A = P( 1 + r/n )^(nt)

Where:
`P` is the principle (starting amount).
`A` is the amount after some time t.
`t` being measure in years.
`r` is the rate of compounding.
`n` is the number of compounds calculated per period t.
--------------------------------------
`P` = 500
`t` = 1
`r` = 0.03
`n` = 2 (Semi-annually means twice per year)
--------------------------------------


Plugging in these values gives:
A = 500( 1 + .03/2 )^(2*1)
A = 515.11

I'm not quite sure where you got 800 from. Hmmm...