Gavin deposited $200 into his savings account that is compounded semi-annually at an interest rate of 9%. Gavin hoped he would have enough money in 8 years to buy a $400 gaming console for college. Is Gavin correct? Write and solve an equation, showing your work to justify your answer

Question

01-12-2021
Mathematics

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Gavin deposited $200 into his savings account that is compounded semi-annually at an interest rate of 9%. Gavin hoped he would have enough money in 8 years to buy a $400 gaming console for college. Is Gavin correct? Write and solve an equation, showing your work to justify your answer

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