## A community for students. Sign up today

Here's the question you clicked on:

## Pianolover03 10 months ago Use the compound interest formula, Alexia has $4864.77 in her money market account currently. If the annual interest rate is 3.9%, and the interest is compounded twice per year, how much money will be in her account after 2 years? A.$4,149.57 B. $5,244.22 C.$5,255.47 D. \$15,733.31

• This Question is Closed
1. Pianolover03

@texaschic101 can you help me again??

2. Pianolover03

@noneyabusiness can you help me??

3. Pianolover03

@uri can you help me??

4. Pianolover03

@Xan can you help me??

5. greenlegodude57

@Pianolover03

6. greenlegodude57

Your equation is $A = 4864.77(1 + \frac{ 0.039 }{ 2 })\ ^{\left( 2 \times 2 \right)}$ Can you solve it?

7. greenlegodude57

$A = 4864.77(1 + \frac{ 0.039 }{ 2 })^{\left( 2 \times 2 \right)}$ $A = 4864.77(1 + 0.0195)^{\left( 4\right)}$ $A = 4864.77(1.0195)^{\left( 4\right)}$ $A = 4864.77(1.0803113)$ $A = 5255.466$ $A = 5255.47$ So your answer is C.

#### Ask your own question

Sign Up
Find more explanations on OpenStudy
Privacy Policy