Cindy invests $1 in an account that pays an annual rate of 3.96%, compounding semi-annually. approximately how much does she have in her account after two years?

Annual Compound Formula is:

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

Where:

A is the future value of the investment

P is the principal investment

r is the annual interest rate

n is the number of  interest compounded per year

t is the number of years the money is invested

So for the given problem:

P = $10,000

r = 0.0396

n = 2 since it is semi-annual

t = 2 years

Solution:

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

A = $10,000 ( 1 + 0.0396/2) ^ (2)(2)

A = $10000 (1.00815834432633616)

A = $10,815.83 is the amount after two years

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.

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