(Solution) - Claude made semi annual deposits of 3100 at the beginning of -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Pages: 5 Words: 1375

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Claude made semi-annual deposits of $3100 at the beginning of a six-month period into a fund earning 6.8% compounded semi-annually for nine years. No further deposits were made.
(a) How much will be in the account 15 years after the first deposit?
(b) How much in total was deposited?
(c) How much interest will have been earned?