The Homestead act promised free land to settlers on the western frontier. It promised ownership of a 160-acre tract of public land to a citizen or head of a family who had resided on and cultivated the land for five years after the initial claim. $6.00. ... The Homestead Act would provide settlers to occupy the new lands.
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Answer:
$4,236.87
Explanation:
A = $ 4,236.87
A = P + I where
P (principal) = $ 4,000.00
I (interest) = $ 236.87
This is the formula:
A = P(1 + r/n)nt
A = 4,000.00(1 + 0.0024/12)(12)(2)
A = $ 4,236.87
