If you deposited $ 5 0 0 0 in a bank account today, and the bank has quoted an interest rate of 4 p a , compounded semi annually What is the balance of your bank account in one quarter s time ( round to the nearest cent )

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If you deposited $ 5 0 0 0 in a bank account today, and the bank has quoted an interest rate of 4 % p

If you deposited $

5000

in a bank account today, and the bank has quoted an interest rate of

4 %

.

.,

compounded semi

-

annually. What is the balance of your bank account in one quarter

s time

(

round to the nearest cent

) ?

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