Answer:
$951.74
Step-by-step explanation:
You want the future value of $750 earning 3% per year for 8 years, compounded semi-annually.
Compound interest
The value of an account earning interest at rate r on principal P compounded n times per year for t years is ...
A = P(1 +r/n)^(nt)
For P=750, r=0.03, n=2, t=8, this is ...
A = 750(1 +0.03/2)^(2·8) = 750(1.015^16) ≈ 951.74
The account will be worth about $951.74 in 8 years.
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Additional comment
All spreadsheets and many graphing calculators have the necessary financial functions for computing this value. Apps are available for the purpose, as well.
