At age 20 a person deposits 370 in a savings account paying

At age 20, a person deposits $370 in a savings account paying 2% interest compounded semiannuallysemiannually.

How much money will be in the account 60 years later, when he is 80 years old? Would his savings have doubled in that time?

Formula for compound interest compounded semi-annually:

Amount= Principal( 1+rate/(2*100) )^(2*time)

60 yrs ; t =40 Amount = 370( 1+ 22/200)^(80)

= $1563291.7

80 yrs ; t= 60 ; Amount = 370(1 +22/200)^(120)

= $101615317.50