1) 216
2) 203
3) 315
4) 256
5) 576
6) 440
The standard form is 210,064,050
S(8)=((100×(1−(50÷100)^(8))÷(1−50÷100)))
=199.22
Since it's paid quarterly, then the yearly interest of 2.8% should be divided by 4.
Since the payment is I/4th of the year, then the number of payment will 4 times more:
A= P(1+i)ⁿ, and for a period of 4, A = P(1+i/4)⁴ⁿ
A=5500(1+0.028/4)⁴ˣ⁴ = 5500(1+0.028/4)¹⁶ = $6149.42 (answer A)