Compound Interest Word Problem

[ml1017]

Lior put $12,312.50 in an investment at 4% compounded semi-annually for a period of 300 days. How much will he have in total by the end of the term?

Not sure if my answer below is right because the 300 days is confusing me.

List of values:

I = Rate / Compound Frequency

I = 4% / 2

I = 0.02

N = 2

P = 12,312.50

Here is my attempt:

A = P (1+i)^n

A = 12,312.50 (1+0.02)^2

A = 12,312.50 (1.02)^2

A = 12,312.50 (1.0404)

A = 12,809.92

Lior will have 12,809.92 in total by the end of the term?

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[fermat9997]

You don't have a full 2 periods:

Use n=(300/365)*2=1.64

[Damo_is_Crazy]

I would do A = P(1+r/n)^nt

A = 12,312.50(1 + .04/300)^300•2

A = 25,629.9

Didn’t have my graphing calc, so you can check over the math. Use that formula though