Can some one please help me find the equasion fo this word problem?

Question

Suppose you deposite $2400 in an account [paying 3.8% interest compounded semi-annually. Find the accoount balance after 12 years.

Answer 1

Interest rate = 3.8% per annum
= 1.9% per half year

Time = 12 years = 24 half years

Using the compound Interest formula

A = P(1 + r/100)^n

A = $2400 (1.019)^24

(= $3770.44 (nearest cent))

NOTE If interest is paid at 3.8% per half year (ie 7.6% per annum),
then A = $2400 (1.038)^24

(= $5874.19 (nearest cent))

Answer 2

compoundrd semiannually therefore 1.9% every 6 mos
so

x=$2400*1.019^24=$3770.44

Answer 3

P = p*e^rt
( e = 2.718)
P = 2400*e^(0.038*6) .5 for every half year * 12 = 6
P = 2400*[2.718^0.228]
P = 2400 * ~1.256
P = $3014.53