Answer :
The formula required to answer this is:
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]
where A is the amount of the principal P after n compounding periods per year at r interest rate (as a decimal fraction).
Plugging in the given values, we get:
[tex]A=600(1+\frac{0.1}{2})^{2\times1}=661.5[/tex]
Rounding to the nearest dollar, we get $662.00. Therefore a is the best answer choice.
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]
where A is the amount of the principal P after n compounding periods per year at r interest rate (as a decimal fraction).
Plugging in the given values, we get:
[tex]A=600(1+\frac{0.1}{2})^{2\times1}=661.5[/tex]
Rounding to the nearest dollar, we get $662.00. Therefore a is the best answer choice.