Tian opened a saving account on January 1st with a deposite of $150. The following July 1st, January 1st, and July 1st, he made 3 more deposits of $150 each. The account paid interest at 3.75% per annum, compounded semi-annually. a) What amount did Tian have in his account at the end of the second year? b) How much interest did Tian earn by the end of the second year?

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Do it in segments remember that there are 12 months in a year. n=2

I tried R, refular deposits (payment) = 150, n, number of deposits or payment = 3, and i, interest rate per compounding period: 0.03765/2 = 0.01875. I got $458. 50 in the end using this formula: A = R [(1 + i)^n - 1 / i. However, the correct answers are: a) $617.09 and b) $17.09

n = 2 because it is compounded twice a year so every six months 3.75% of the money present in the account is added to the original amount invested.

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