The question seems to be asking for the future value of an investment given certain conditions. Here's how you can calculate it:

Step 1: Identify the variables
Principal amount (P) = $200
Annual interest rate (r) = 1% or 0.01
Number of times interest is compounded per year (n) = 2 (since it's every 6 months)
Number of years the money is invested for (t) = 5

Step 2: Use the formula for compound interest
The formula for compound interest is A = P(1 + r/n)^(nt), where A is the amount of money accumulated after n years, including interest.

Step 3: Substitute the values into the formula
A = 200(1 + 0.01/2)^(2*5)

Step 4: Solve the equation
A = 200(1 + 0.005)^10
A = 200(1.005)^10
A = 200 * 1.051
A = $210.20

So, after 5 years, Uncle Vernon's investment will grow to approximately $210.20.

Question

The question seems to be asking for the future value of an investment given certain conditions. Here's how you can calculate it:

Step 1: Identify the variables
Principal amount (P) = $200
Annual interest rate (r) = 1% or 0.01
Number of times interest is compounded per year (n) = 2 (since it's every 6 months)
Number of years the money is invested for (t) = 5

Step 2: Use the formula for compound interest
The formula for compound interest is A = P(1 + r/n)^(nt), where A is the amount of money accumulated after n years, including interest.

Step 3: Substitute the values into the formula
A = 200(1 + 0.01/2)^(2*5)

Step 4: Solve the equation
A = 200(1 + 0.005)^10
A = 200(1.005)^10
A = 200 * 1.051
A = $210.20

So, after 5 years, Uncle Vernon's investment will grow to approximately $210.20.

Knowee AI · Accepted Answer

The question seems to be asking for the future value of an investment given certain conditions. Here's how you can calculate it:

Step 1: Identify the variables
Principal amount (P) = $200
Annual interest rate (r) = 1% or 0.01
Number of times interest is compounded per year (n) = 2 (since it's every 6 months)
Number of years the money is invested for (t) = 5

Step 2: Use the formula for compound interest
The formula for compound interest is A = P(1 + r/n)^(nt), where A is the amount of money accumulated after n years, including interest.

Step 3: Substitute the values into the formula
A = 200(1 + 0.01/2)^(2*5)

Step 4: Solve the equation
A = 200(1 + 0.005)^10
A = 200(1.005)^10
A = 200 * 1.051
A = $210.20

So, after 5 years, Uncle Vernon's investment will grow to approximately $210.20.

our uncle Vernon invests $200 compounding with an APR of 1% every 6 months, andhe does this for ﬁve years

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