Lyn invested $7,000 into a investment paying 3% interest, compounded semi-annually, twice a year. after five years, how much would the investment be worth? a=p(1+r/n)^nt
a.) $8,050.00
b.) $8,123.79
c.) $1,123.79
d.) $8,114.92
e.) $1,050.00

Option B.) $8,123.79

Step-by-step explanation:

we know that    

The compound interest formula is equal to  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

substitute in the formula above  

i think the correct option is the second option.