Reese made a deposit of $609.00 into a bank account that earns interest at 5.8% compounded semi-annually. The deposit ea

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Reese Made A Deposit Of 609 00 Into A Bank Account That Earns Interest At 5 8 Compounded Semi Annually The Deposit Ea 1 (89.82 KiB) Viewed 37 times

Reese made a deposit of $609.00 into a bank account that earns interest at 5.8% compounded semi-annually. The deposit earns interest at that rate for four years. (a) Find the balance of the account at the end of the period. (b) How much interest is earned? (c) What is the effective rate of interest? (a) The balance at the end of the period is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The interest earned is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) The effective rate of interest is %. (Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)