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Pianolover03
Group Title
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
 6 months ago
 6 months ago
Pianolover03 Group Title
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
 6 months ago
 6 months ago

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Pianolover03 Group TitleBest ResponseYou've already chosen the best response.0
@texaschic101 can you help me again??
 6 months ago

Pianolover03 Group TitleBest ResponseYou've already chosen the best response.0
@noneyabusiness can you help me??
 6 months ago

Pianolover03 Group TitleBest ResponseYou've already chosen the best response.0
@uri can you help me??
 6 months ago

Pianolover03 Group TitleBest ResponseYou've already chosen the best response.0
@Xan can you help me??
 6 months ago

greenlegodude57 Group TitleBest ResponseYou've already chosen the best response.0
@Pianolover03
 6 months ago

greenlegodude57 Group TitleBest ResponseYou've already chosen the best response.0
Your equation is \[A = 4864.77(1 + \frac{ 0.039 }{ 2 })\ ^{\left( 2 \times 2 \right)}\] Can you solve it?
 6 months ago

greenlegodude57 Group TitleBest ResponseYou've already chosen the best response.0
\[A = 4864.77(1 + \frac{ 0.039 }{ 2 })^{\left( 2 \times 2 \right)}\] \[A = 4864.77(1 + 0.0195)^{\left( 4\right)}\] \[A = 4864.77(1.0195)^{\left( 4\right)}\] \[A = 4864.77(1.0803113)\] \[A = 5255.466\] \[A = 5255.47\] So your answer is C.
 6 months ago
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