michelle deposited a certain sum of money in a savings account on july 1 st , 2007 . she earns an 12 % interest compounded semiannually . the sum of money in the account on december 31 st , 2009 is approximately what percent of the initial deposit ?
"since michelle earns 12 % interest compounded semiannually , then she earns 6 % interest every 6 months . now , the simple interest earned in 5 periods ( 30 months = 5 * 6 months ) would be 6 % * 5 = 30 % . but , since the interest iscompoundedevery 6 months , then there would be interest earned on interest ( very small amount ) thus the actual interest earned would be a little bit more than 30 % , only answer choice d fits . answer : d"
multiply(power(add(1, divide(divide(12, const_100), const_2)), add(const_2, const_3)), const_100)